More than a decade ago, bankers fought Walmart tooth and nail as it made forays into banking. But with Amazon making more moves into financial services, the reaction is very different.
The new law, which is modeled on a similar effort in the United Kingdom, aims to lure financial firms to the desert. It has drawn support from business organizations but opposition from consumer groups — a dynamic that is likely to be replayed in other states.
Behavioral biometrics are attractive because they are easy to implement, hard for criminals to spoof and not subject to the same privacy protections applied to thumbprints or retina scans.
The bank says CEO had no input into $325 million loan to Trump's son-in-law; Fifth Third, First Republic take equity stake in online student loan lender.
The Berlin company hopes to shake up the U.S. market with real-time, mobile-first, millennial-friendly banking, and the new infusion of cash from Allianz and Tencent will help.
As the agency pulls back its enforcement efforts, it opens the door for state authorities to pursue more cases against financial startups for their data collection and privacy practices.
Wells Fargo gets tipped off by OCC on investigation; HSBC is wading back into U.S. mortgage waters; a bank uses artificial intelligence to combat money laundering; and more.
