Silicon Valley giants are better innovators, software developers and data managers, but banks' inherent advantages shouldn't be discounted, says Sonny Singh, a senior vice president at Oracle.
Travelex unable to deliver cash to major banks following a New Year’s Eve cyberattack; Rep. Katie Porter says the bank is undermining purpose of its punishment.
Though many merchants remain wary of alienating their customers with fees, others now see an opportunity to recoup the growing costs associated with accepting plastic.
California Gov. Gavin Newsom plans to ask the legislature to revamp the current Department of Business Oversight and rename it the Department of Financial Protection and Innovation, modeled after the federal CFPB.
Todd Zywicki, a law professor who has sharply criticized the CFPB as an unaccountable bureaucracy, has been named chair of an agency task force identifying potential conflicts and inconsistencies in consumer finance law.
In trying to adapt and survive in an increasingly tech-dominated world, banks may unintentionally give up their most valuable commodity — their relationship with the consumer, and the data that comes with it.
