The Consumer Financial Protection Bureau (CFPB) has taken action to establish supervisory authority over installment lender World Acceptance Corp., saying it aims to ensure compliance with federal consumer financial protection laws. “The CFPB has determined that World Acceptance Corporation has met the legal requirements for supervision,” the agency...
Europe’s new top bank regulator wants lenders to beef up plans for dealing emerging risks. “Many of the issues dominating today’s headlines were inconceivable a decade ago,” Claudia Buch said in her first speech as chair of the European Central Bank’s Supervisory Board Monday (Feb. 12), per a report...
Systemic shifts are taking place across the global economy, bringing with them new, urgent risks. But importantly, within the many era-defining changes underway, including the double-edged sword of generative artificial intelligence (AI) capabilities, exists an emergence of unique opportunities — particularly for the payments industry....
Scores of central bank digital currency (CBDC) initiatives are in the works or already active — and yet pose some key concerns for central banks. In a paper released this week by the Bank for International Settlements, the warnings are that CBDCs could have “major...
April 09, 2024
The B2B landscape is built atop trusted relationships, both formal and informal. These relationships can include partnerships and collaborations with third-party vendors, suppliers, contractors, service providers and more; and while these relationships can offer numerous benefits such as cost savings, access to specialized expertise and expanded market reach, they also introduce various risks that can […]
November 11, 2021
The adoption of digital transactions has skyrocketed since the beginning of the pandemic, alongside a commensurate decrease in the use of cash, causing many to ponder the future fate of...
October 07, 2021
The cost of failed payments continues to be a prevalent issue in the payments industry and the many businesses it supports, causing inefficiencies that not only impact companies’ ability to...
September 20, 2021
It is getting harder for financial institutions to win what seems to be the endless war on financial crime. Incidences of money laundering, corruption continue to go unchecked, and one...
February 26, 2024
The Consumer Financial Protection Bureau (CFPB) has taken action to establish supervisory authority over installment lender World Acceptance Corp., saying it aims to ensure compliance with federal consumer financial protection laws. “The CFPB has determined that World Acceptance Corporation has met the legal requirements for supervision,” the agency said in a Friday (Feb. 23) press release. It added: “Importantly, […]
February 12, 2024
Europe’s new top bank regulator wants lenders to beef up plans for dealing emerging risks. “Many of the issues dominating today’s headlines were inconceivable a decade ago,” Claudia Buch said in her...
October 23, 2022
Retail technology company Diebold Nixdorf has joined forces with financial crime prevention firm Featurespace to integrate Featurespace’s fraud prevention tech into Diebold Nixdorf’s Vynamic Payments platform. “By partnering with Featurespace,...
October 18, 2022
Crypto wallet BitKeep has been hacked for more than $1 billion in BNB Chain and Polygon-based tokens on Tuesday (Oct. 18), a Coindesk report said. The BitKeep Swap product said...
