It's not just Equifax that needs to worry. The incident can and should be a turning point for the financial services industry that it needs to end its reliance on static personal identifiers like Social Security numbers and birth dates.
Mobile wallets and digital payments apps are erasing the distinction between credit and debit, but many issuers still cling to old practices that treat those audiences differently. SunTrust is working to change that.
Where existing money and payment systems are wanting, mutually consenting adults are resourceful in finding ways to transact, notwithstanding government restrictions.
The simple act of moving money can have a big impact on any political movement, so banks and payment networks are often caught up in issues of national importance. Here are some recent instances where payments and politics came head-to-head.
Varo Money, an app designed for people who want to exclusively bank on their cell phones, announced Tuesday that it has filed formal applications for a national bank charter.
