New payments systems like Apple Pay could offer an opening to terrorists, and should be regulated like banks, the CEO of BB&T said at a payments industry forum this month. Kelly King's solution? If they become important enough, designate them SIFIs [systemically important financial institutions]...
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Bankers must make consumer safety a priority as they develop a new, real-time electronic payments system, Consumer Financial Protection Bureau Director Richard Cordray told a financial conference on Thursday (Nov. 20). Get the Full Story Complete the form to unlock this article and enjoy unlimited...
A U.S. Senate special committee is looking into scams that use reloadable prepaid debit cards like Green Dot’s popular MoneyPak card to victimize consumers, less than a week after the Consumer Financial Protection Bureau proposed new rules that increase consumer protections for funds stolen from...
China’s cabinet called for supporting the country’s e-commerce industry with preferential policies — a shift that would benefit Alibaba and JD.com, China’s biggest online retailers, Reuters reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Managing the “dozens of ACH islands” that exist around the worldwide in order to pay hundreds or even thousands of payments to suppliers is typically time consuming and expensive. But that’s exactly the problem that Chen Amit, set out to solve four years ago when...
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New debit-card regulations from the Consumer Financial Protection Bureau won’t just cover reloadable plastic cards, but also payment services like PayPal, Venmo, Square Cash and Google Wallet, according to Bloomberg Businessweek. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
With an ever-increasing list of Know Your Customer regulations for banks doing international funds transfers, financial messaging network SWIFT is developing a new report to help banks spot red flags and problem customers using an analysis of SWIFT traffic.
