payments

Fed should open the payments system to fintechs

01/24/19

There’s no reason for the central bank to prohibit nonbank financial firms from entering the payments system as long as appropriate rules are put in place to protect against risk.

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JPM merging payments units; Brit banks worried about consumer lending

01/18/19

The units that handle small business payments and the one for larger firms will be combined; survey shows U.K. consumers may shun loans.

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Fed not an impediment to fintechs' charter ambitions: OCC's Otting

01/16/19

Some in the industry worry the Fed may balk at allowing OCC charter recipients into the payments system, but Otting downplayed those concerns.

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Real-time payments needs more competition

01/16/19

The Federal Reserve has suggested it could join the market for instant interbank payments, but private sector entrants would be better.

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Citi beats estimate as earning season opens; Goldman eyes cash management

01/14/19

Trading revenue for banks is expected to be flat; the bank plans high deposit rates to lure corporate customers.

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Cuomo names new DFS head; UBS courting former BofA executive

01/07/19

Linda Lacewell replaces Maria Vullo as New York’s chief financial regulator; the Swiss bank is reportedly talking to Christian Meissner about a senior role.

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USAA mishandled payday disputes, opened unauthorized accounts: CFPB

01/03/19

The bank will pay over $15 million in restitution and fines to settle claims that it neglected stop-payment requests and reopened deposit accounts without customers' consent.

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Square to make another bid for bank charter

12/19/18

The payments processor was among numerous firms earlier this year to withdraw an ILC charter application over questions about its plan.

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Amazon, Google at odds with big banks over Fed's role in faster payments

12/17/18

The tech giants, along with Apple, PayPal and others, are calling on the Federal Reserve to build a backbone for real-time payments, rejecting large banks’ claims that the task is best left to the private sector.

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Fed rejects Wells fix-it plan; more trouble for Deutsche Bank

12/07/18

The move means the cap on asset growth may stay in place longer; the German bank reportedly processed 80% of the money laundered through Danske Bank.

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