PayThink is focused on the rapidly changing, inter-connected markets of debit, credit, mobile, prepaid and digital payments. As the payments industry strives for faster innovation to launch new products ahead of competitors, PayThink provides insight from market participants and innovators leading the way. PayThink is designed for executives looking to stay relevant in the ever-changing payments ecosystem by finding and honing their competitive edge.
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With the introduction of FedNow, the Federal Reserve is out of good reasons not to mandate that banks process payments by the fastest means available.
July 25
American Banker -
A report by the Public Company Accounting Oversight Board raised concerns about declining audit quality across the accounting industry for a second consecutive year. The report found instances of firms using insufficient testing and inadequate support for audit conclusions.
July 25
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JPMorgan Chase, Barclays, Citigroup and others will face a class-action suit over allegations of foreign exchange manipulation.
July 25
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Storms earlier this month crippled local communities in the Green Mountain state. Banks, which have had to close branches or open alternative ones, are offering flexible loan repayment options and working with municipalities to finance the rebuilding of infrastructure.
July 25
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Concluding the industry faces years of upheaval, BlackRock is poised to become a bigger buyer of assets that banks unload to improve their capital and liquidity.
July 25
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Kevin Sweeney is a former federal tax prosecutor. He is currently a shareholder in the Philadelphia Office of
Chamberlain Hrdlicka , where he focuses on IRS audits, civil and criminal tax litigation, white-collar criminal defense, and corporate investigations. He may be reached atksweeney@chamberlainlaw.com .July 25
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John Kirbo is a senior counsel in
Chamberlain Hrdlicka 's tax controversy practice in Atlanta. He has a background in business transactions, as well as both civil litigation and criminal defense, primarily in federal district court. He is skilled at solving complex problems for clients through litigation or other more creative means. He may be reached atjohn.kirbo@chamberlainlaw.com .July 25
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Tom Cullinan is a shareholder in
Chamberlain Hrdlicka 's Atlanta office. He works in the firm's tax controversy group, focusing on tax, tax controversy and litigation. Before joining the firm, he worked at the IRS, serving as the counselor to the IRS commissioner and then as the acting IRS chief of staff. As relevant here, while at IRS he co-led the creation of the Office of Promoter Investigation. He may be reached attom.cullinan@chamberlainlaw.com .July 25
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The Office of the Comptroller of the Currency levied the civil money penalty against American Express National Bank for failing to implement adequate call-monitoring controls and track customer complaints with a third-party affiliate.
July 25
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