Slideshow Fintech vulnerability, Square bails, new blood among CROs: Top stories of the week

Published
  • July 06 2018, 3:10pm EDT
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One firm's inability to access bank data shows how fragile fintechs can be; payments processor Square quietly withdraws bank application; turnover of chief risk officers is on the rise; and more from this week's most-read stories.

Fintechs' vulnerability apparent in Capital One data-access flap

Whatever the reason that Plaid, a prominent data aggregator, can no longer access data from Capital One, the situation demonstrates how fragile fintechs are when they lose banking access.

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Square quietly withdraws bank application

The payments processor has pulled its submission to the FDIC to become a depository bank but says it plans to make a second attempt soon.

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Why RBC, JPMorgan are backing a new standard for financial apps

A new standard would make financial apps work together the way iPhone apps do. Twelve large banks, including JPMorgan Chase, Morgan Stanley and RBC, are already using it.

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Banks seek new blood to fill evolving CRO role

Turnover of chief risk officers is on the rise as CEOs look to add executives whose experience goes far beyond assessing credit risk. Sometimes they are promoting from within, but often they are poaching talent from rival banks.

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Crypto money laundering up threefold in 2018: Report

Theft and money laundering are both thriving in the crypto world, according to a report released Tuesday by CipherTrace.

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What's behind the slowdown in CRE lending

Commercial real estate is their bread and butter, but many banks are scaling back in this vital loan category. Here's why.

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What happens to CFPB if Mulvaney gets picked as Trump's chief of staff?

There is yet more drama surrounding leadership of the CFPB as President Trump reportedly considers promoting Mick Mulvaney to White House chief of staff.

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Pressure mounts on FDIC, Fed to follow OCC's small-dollar lead

The Office of the Comptroller of the Currency's bulletin is seen as just one piece of the regulatory puzzle to coax banks into installment lending.

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How Pat Toomey could shape banking policy

If the GOP keeps the Senate, the Pennsylvania Republican, who has pressed for bigger changes to the Dodd-Frank Act than recently enacted regulatory relief legislation, could be the next banking chair. Here's what that means.

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Corporate customers want retail's bells and whistles, too

"Banks should be investing in innovation in this area or risk getting left behind," a fintech CEO warns.

(Full story here.)