Bank of America's Cathy Bessant contends banks are fintech companies; Citi's Heather Cox says no way are startups ever going to be the 'Uber of banking;' and is Elizabeth Warren a tyrant? Also, don't miss our coverage of the celebration for the Most Powerful Women in Banking and Finance. Maybe someone you know is in the photos.
EMV card technology has fully replaced traditional magnetic stripe cards in virtually all developed countries except the U.S. In these markets, it's proven to be an effective technology to reduce fraud for card-present transactions, forcing fraudsters to migrate to areas that have not adopted a chip-based payment system.
Netflix blamed the shift to EMV credit and debit cards for its 10.2% year-over-year decline in U.S. subscribers. Card firms are having none of that talk. One unnamed card industry executive said Netflix is the only subscription-based business complaining about such a problem, so the problem must be Netflix. ...
The changes made 10 years ago reduced abusive bankruptcies and made our nation's economy more resilient. If Congress had gone further by regulating attorney fees and increasing penalties for fraud, the economy would be that much stronger.
The reform has returned bankruptcy to its intended function as a last resort for consumers, rather than a way for the wealthy to game the system at everyone else's expense.
The bureau's proposed standards would drive lenders out of short-term, small-dollar lending, just as the OCC's 2013 rules did. This time, however, there will be few, if any, regulated institutions left to fill the void.
Renée Dailey has joined law firm Morgan, Lewis & Bockius as a partner with the bankruptcy and restructuring practice. Ms. Dailey has experience representing insurance companies and other institutional investors and has worked with clients in the U.S. and around the world. Most recently, she was a partner with law firm Bracewell & Giuliani.
Texas’s consumer watchdog has reached a deal with a Dallas manufacturer that once sold solar panels that weren’t quite “Made in the U.S.A.,” despite their label.
