The Consumer Financial Protection Bureau’s finalized rule on data sharing has its share of supporters and detractors. Those in favor of the new mandates — and as described by the CFPB itself — say the rule promotes competition among incumbent banks, levels the playing field...
It’s still premature to say that open banking and pay by bank have truly arrived in the U.S. However, with the Consumer Financial Protection Bureau (CFPB) issuing the final Rule 1033 draft on Oct. 22, they certainly have more momentum. The ruling seems to have...
Jamie Dimon, CEO of J.P. Morgan Chase, the largest bank in the United States, said Monday (Oct. 28) that his colleagues should fight against overregulation. He said the industry is saddled with redundant or badly-conceived regulations on things like open banking, Reuters reported Monday. “It’s...
The assets of bankrupt Banking-as-a-Service (BaaS) provider Synapse are going up for sale next month. B Riley Advisory Services, the group handling the sale, announced Friday (Oct. 25) a pair of deadlines for interest bidders: Nov. 4, 4 p.m. PT for initial indications of interest,...
November 05, 2024
The Consumer Financial Protection Bureau’s finalized rule on data sharing has its share of supporters and detractors. Those in favor of the new mandates — and as described by the CFPB itself — say the rule promotes competition among incumbent banks, levels the playing field between banking behemoths and smaller players, and gives consumers control […]
October 25, 2024
As we head into the fourth quarter of arguably the most innovative year in payments since the pandemic, the liberation of capital is emerging as the story of the year....
October 24, 2024
As one of the hottest trends in payments, embedded finance has emerged as a compelling credit proposition for consumers and businesses. The execution demands an intricate web of collaboration and...
October 23, 2024
The last thing that a merchant wants is to see a consumer or business customer go through the process of identifying the product or service that they want and get...
October 28, 2024
Jamie Dimon, CEO of J.P. Morgan Chase, the largest bank in the United States, said Monday (Oct. 28) that his colleagues should fight against overregulation. He said the industry is saddled with redundant or badly-conceived regulations on things like open banking, Reuters reported Monday. “It’s time to fight back,” Dimon said at a conference, per […]
October 27, 2024
The assets of bankrupt Banking-as-a-Service (BaaS) provider Synapse are going up for sale next month. B Riley Advisory Services, the group handling the sale, announced Friday (Oct. 25) a pair...
October 23, 2024
Pay-by-bank solution provider Dwolla is expanding its partnership with data network Plaid. The companies will integrate Plaid’s instant account verification and risk assessment tools into Dwolla’s pay-by-bank platform, according to...
October 22, 2024
The Bank Policy Institute and the Kentucky Bankers Association filed a lawsuit Tuesday (Oct. 22) challenging the Consumer Financial Protection Bureau’s (CFPB) final rule on data sharing that was unveiled...
