financial institutions

CFPB Says Surprise Overdraft and NSF Fees Lead to $120 Million in Refunds

CFPB Says Surprise Overdraft and NSF Fees Lead to $120 Million in Refunds
CFPB Says Surprise Overdraft and NSF Fees Lead to $120 Million in Refunds
October 11, 2023  |  CFPB

Surprise overdraft and nonsufficient funds (NSF) fees account for a significant portion of the refunds to consumers by companies announced Wednesday (Oct. 11) by the...

READ MORE >
Central Banks, BIS and FI Projects Point to Growing Embrace of Tokenized Deposits
Central Banks, BIS and FI Projects Point to Growing Embrace of Tokenized Deposits
October 05, 2023  |  Banking

The Bank for International Settlements, central banks and traditional financial institutions (FIs) are in the midst of tackling various ways and means of creating and...

READ MORE >
Instant Approval Helps Banks Streamline the KYB Process
Instant Approval Helps Banks Streamline the KYB Process
October 04, 2023  |  Bank Regulation

Scott Steinberg, chief operating officer of Enigma Technologies, said there has been an evolution of know your business (KYB) practices — and there’s increased urgency...

READ MORE >
Banks Need to Be on the Cutting Edge of AI’s Double-Edged Fraud Sword
Banks Need to Be on the Cutting Edge of AI’s Double-Edged Fraud Sword
October 04, 2023  |  Artificial Intelligence

The greatest innovations are those that democratize access to new skills and empower populations. Get the Full Story Complete the form to unlock this article...

READ MORE >
FedNow Service Surpasses 100 Participants Since July Launch
FedNow Service Surpasses 100 Participants Since July Launch
October 03, 2023  |  Real-Time Payments

More than 100 institutions are now actively participating on the Federal Reserve’s FedNow® Service network, which launched in July. Get the Full Story Complete the form to...

READ MORE >
WorkFusion Unveils AI-Powered Transaction Monitoring Investigator
WorkFusion Unveils AI-Powered Transaction Monitoring Investigator
October 02, 2023  |  AML

WorkFusion has unveiled a new AI Transaction Monitoring Investigator designed to automate the review of first-level (L1) transaction monitoring alerts.  Get the Full Story Complete...

READ MORE >
Ripple Pulls Out of Fortress Trust Acquisition
Ripple Pulls Out of Fortress Trust Acquisition
September 29, 2023  |  Partnerships

Cryptocurrency company Ripple is not moving ahead with its previously announced plans to acquire custodian Fortress Trust. Get the Full Story Complete the form to unlock...

READ MORE >
BIAN Bids to Sidestep Legacy Infrastructure With ‘Coreless Banking’
BIAN Bids to Sidestep Legacy Infrastructure With ‘Coreless Banking’
September 28, 2023  |  Banking

Hans Tesselaar, executive director of BIAN, told PYMNTS that the digital transformation of banking hinges on innovation, on interoperability between financial institution and providers forged...

READ MORE >