Payments
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Spencer Platt/Getty Images via Getty Images
Zelle, big banks challenge senators on scam reimbursements
Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.
By Patrick Cooley • July 26, 2024 -
Courtesy of Revolut Press Kit
Revolut faces more fraud claims than other UK banks: report
A spokesperson said the fintech investigates each fraud claim independently of other cases, and that it takes such claims “incredibly seriously.”
By Gabrielle Saulsbery • July 24, 2024 -
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Morris MacMatzen / Stringer via Getty Images
TrendlineData-driven disruption
More often than not, an innovator may see disruption as an enhancement to be embraced. And sometimes the innovators are the establishment.
By Banking Dive staff -
Courtesy of Comerica
ColumnDive Deposits: Comerica’s loss may be BNY’s gain
The Treasury Department will not renew its Direct Express debit card contract with Comerica, the Dallas bank disclosed Friday. Rather, that partnership is going to BNY, sources told American Banker.
By Dan Ennis • July 23, 2024 -
Dan Kitwood/Getty Images News via Getty Images
BlockFi prepares to make customers whole
The crypto firm’s bankruptcy plan was approved in September. It announced Monday the sale of its FTX claims, part of its plan to pay customers back, at a “substantial premium to the[ir] face value.”
By Gabrielle Saulsbery • July 23, 2024 -
Alex Wong / Staff via Getty Images
Truist execs pledge expense discipline
While the bank is “fully committed” to keeping expenses flat this year compared to last, Truist is spending to bolster its payments and middle market lending teams, CEO Bill Rogers said Monday.
By Caitlin Mullen • July 22, 2024 -
Chris Hondros / Staff via Getty Images
JPMorgan Chase invests in B2B payments startup Slope
The bank’s payments unit and Y Combinator were among investors providing $65 million in financing for the business-to-business upstart this month.
By Lynne Marek • July 22, 2024 -
sutlafk/Shutterstock.com
Sponsored by Form3Why orchestration is a key driver in payment modernization
Payment orchestration solutions give banks flexibility and control around what happens for each payment type they handle.
July 22, 2024 -
Joe Raedle / Staff via Getty Images
Capital One-Discover deal critics, supporters sound off
Executives with the two companies and a number of community groups spoke in favor of the $35.3 billion merger Friday, while a raft of critics urged regulators to block the deal.
By Caitlin Mullen • July 19, 2024 -
Anna Moneymaker via Getty Images
CFPB to apply lending laws to EWA
The federal agency weighed in Thursday with a proposed rule to oversee the burgeoning earned wage access industry.
By Lynne Marek • July 18, 2024 -
Win McNamee via Getty Images
Opponents of Capital One-Discover merger to air grievances
Consumer advocates say the tie-up will stifle competition and give the combined company an easy avenue to raise fees on card payments.
By Patrick Cooley • July 18, 2024 -
Scott Olson / Staff via Getty Images
Discover to sell student loan portfolio to Carlyle, KKR in $10.8B deal
The student loan sale is the latest loose end Discover seeks to tie up since Capital One announced its intent to purchase the card company.
By Caitlin Mullen • July 17, 2024 -
Lynne Marek/Banking Dive
FedNow zooms past RTP participation in inaugural year
The Federal Reserve’s nascent instant payments system has collected hundreds of bank participants across the country in its first year of operations, although a few major banks are holdouts.
By Lynne Marek • July 17, 2024 -
Courtesy of BNY Mellon newsroom
Banks should proactively tackle instant payments fraud: BNY
Use of data-sharing protocols among banks could warn customers before they send money, said Carl Slabicki, a BNY executive.
By Suman Bhattacharyya • July 12, 2024 -
Win McNamee / Staff via Getty Images
Lawmakers egg on US payments system expansion
A bipartisan group is nudging the Federal Reserve to explain why it can’t speed up a plan to extend the operational availability of the U.S. payments system.
By Lynne Marek • July 8, 2024 -
Scott Olson via Getty Images
Discover to settle card misclassification class actions for $1.2B
The card company has warned it could face further financial toll related to the issue, in which it overcharged merchants for years.
By Caitlin Mullen • July 8, 2024 -
matt_benoit via Getty Images
Silvergate pays $63M to settle with SEC, Fed, California regulator
The company and two of its executives settled allegations against them. Silvergate’s former CFO, however, did not, and eyes a civil trial.
By Gabrielle Saulsbery • July 2, 2024 -
Permission granted by The Federal Reserve
Sponsored by Federal Reserve Financial ServicesHere’s how the FedNow® Service answers the need for fast, safe and reliable instant payments
A new survey released by the Federal Reserve shows that among all the choices, faster and instant payments are growing in demand.
July 1, 2024 -
VersaBank’s cross-border acquisition of Minnesota lender gets final nod
Canada’s Office of the Superintendent of Financial Institutions approved the transaction this week, after the Fed and OCC green-lighted the tie-up.
By Dan Ennis • June 28, 2024 -
whyframestudio via Getty Images
Chuck morphs into a new Alloy Labs-backed effort
Community banks partnered with Alloy Labs and Payrailz a few years ago on a project called Chuck, in a bid to rival Zelle, but that effort has been subsumed by a stealthy successor.
By Lynne Marek • June 27, 2024 -
Dan Kitwood / Staff via Getty Images
Crypto firm Abra settles with 25 states for operating without a license
Abra agreed to repay customers some $82 million in crypto. CEO Bill Barhydt said all but $2 million, yet to be claimed, has been repaid.
By Gabrielle Saulsbery • June 27, 2024 -
Spencer Platt / Staff via Getty Images
Bank of America zeroes in on innovation with business banking app
The team behind the bank’s CashPro app aims to stay a step ahead of rivals, in part by working closely with clients on improvements, said Jennifer Sanctis, the app’s product head.
By Caitlin Mullen • June 24, 2024 -
Google Maps
JPMorgan’s chief payments exec hired by Fiserv
The bank announced Takis Georgakopoulos's departure this month "to pursue an opportunity outside the firm," but it didn't detail, at the time, where he was going.
By Patrick Cooley • June 21, 2024 -
Mario Tama via Getty Images
Citi leans on services business amid turnaround
At an investor event Tuesday, bank executives said the services business, which helps about 19,000 clients around the world manage and move money, is at the heart of Citi’s strategy.
By Caitlin Mullen • June 18, 2024 -
Denis Tangney Jr. via Getty Images
Gemini to settle with NY AG for $50M
The $50 million in digital assets will go directly to investors of its defunct Gemini Earn program, who will be made whole, according to the settlement.
By Gabrielle Saulsbery • June 17, 2024 -
Milan Markovic via Getty Images
Sponsored by FinastraUnlocking cross-border payments: Trends financial institutions should address
As cross-border payments evolve collaboration and adaptability are paramount. The industry must cater to diverse use cases, meet client expectations and embrace alternative solutions via innovation.
By Radha Suvarna, Chief Product Officer, Payments Business Unit at Finastra • June 17, 2024
