Facebook’s payments ambitions have made banks wary for years, despite many false starts. But now it looks as if Facebook is pivoting to develop a remittance business, starting with a cryptocurrency project in India.
The tech giants might be moving into small-business lending, but they’re more likely to take business away from large commercial lenders, not community institutions.
The Danish bank found more than $200 billion of suspicious deals at its Estonian branch; merchants can opt out of the deal as another case on network rules continues.
Readers opine on prospects for the midterm elections, respond to Facebook's forays into collecting bank data, weigh in on new overdraft legislation and more.
The company says several banks and credit card issuers are interested in data sharing; rates may go even higher when corporate borrowers need to refinance.
UniCredit SpA stopped using Facebook Inc. for advertising, alleging the media giant hasn’t acted ethically, a move other large companies have also threatened to make.
Echoing the set of restrictive rules known as GDPR enacted earlier this year by the European Union, the state legislation — which does not take effect until 2020 — will almost certainly be the subject of intense lobbying from business giants that vacuum up all the data.
A first-in-the-nation ballot initiative would give consumers more control over their personal information, but banks and other companies say that it would amount to a tax on doing business in the Golden State.
