PayThink 2018 Direct Page

The card lender took full control of Swisscard from UBS; the Financial Conduct Authority is bringing installment lending regulations in line with other consumer financial products; and more payments news from around the world.

Consumer Financial Protection Bureau Director Rohit Chopra said opposition to the bureau's recently finalized open banking rule should be viewed as banks and other large firms attempting to quash competition and stymie consumer data protection.

McKinsey published a report Wednesday that found banks' technology investments equate to the gross domestic product of Sweden. But this spending is not leading to revenue growth, they and others say. 

Chase Tarkenton is the SVP and General Manager of boost.ai, North America. He's focused on partnership growth, helping insurance firms leverage AI technology in personalized customer experiences.

The Southern California company beat analysts' expectations, partly by steadily paying less for deposits, as it navigates a classic net interest margin pickle.

Nikita Mistry is an associate at the law firm BakerHostetler. She is a member of the team serving as counsel to the court-appointed trustee under the Securities Investor Protection Act for the liquidation of Bernard L. Madoff Investment Securities LLC.

Jimmy Fokas is a partner at BakerHostetler. He is an experienced white collar and securities enforcement defense attorney with a broad practice representing public and private companies, regulated entities, audit committees and their officers, directors and employees before the Securities and Exchange Commission, the Department of Justice, the Financial Industry Regulatory Authority and the New York Office of the Attorney General. He also conducts internal investigations regarding potential FCPA violations and represents court-appointed fiduciaries in the recovery of assets. Prior to joining the firm, he served as senior counsel in the Division of Enforcement in the New York regional office of the SEC, where he conducted investigations and commenced actions concerning accounting and financial reporting fraud, insider trading, offering fraud and various other securities law violations. He currently serves as a co-leader of the Financial Investigations, Restatement and Accounting practice team.

The Consumer Financial Protection Bureau said Goldman Sachs failed to investigate tens of thousands of disputes, while Apple misled iPhone purchasers about interest-free payment options. The two companies were ordered to pay $89 million.

Y-12 Federal Credit Union in Oak Ridge, Tennessee, said it would acquire First State Bank of the Southeast in Middlesboro, Kentucky. It was the 19th such deal announced this year.

The danger for the central bankers is that "they go too fast or too slow and that risk is higher now than it was six months ago," BofA Chief Executive Brian Moynihan said.