PayThink

Credit unions must walk a fine line between making interactions for members as easy as possible while also providing robust protection against evolving cybersecurity threats.

The agency recently proposed gutting the ability-to-pay standard in its small-dollar loan rule, a move that would benefit the payday loan industry and harm consumers.

By applying to become an industrial loan company, the fintech would be able to use insured deposit accounts as a cheap source of funding without having to comply with the tough rules banks face.

The time has come for payment incumbents to increasingly depend on the cloud for more production applications and emerging technologies and choose platforms, partners and tools that will turn them into butterflies rather than fast caterpillars, writes Stephan Fabel, director of product at Canonical.

The real value for Apple is in the underlying consumer and spending data. Apple already has a tremendous amount of consumer data via its phones and will gain the ability to pair that with consumer spending, according to Ali Raza, managing principal at Blue Leviathan.

Bankers should pay attention to a recent case in Wyoming in which regulators have sought to bar two executives for misusing confidential bank information for the benefit of a rival institution.

It creates an auditable, distributed ledger of transactions that cannot be altered or removed, enabling transactions that are valid, authentic, trustworthy and immutable, according to David Uhryniak, a blockchain services leader at Crowe LLP, and Brian T. Zygmunt, a partner with Crowe LLP.

The Small Business Administration should consider partnering with fintechs, which have the capacity to approve loans quickly, to help avoid the kind of application backlog the agency faced after the last government shutdown.

Regulators spend considerable time and resources reviewing big mergers and the process shouldn’t be used as a proxy for the “too big to fail” fight.

By taking precautions to protect your mPOS devices, your business can safely sell at more locations for a comparatively low cost while keeping your customer and company data safe, writes Rafael Lourenco, an executive vice president at ClearSale.