Visa abandons open banking in U.S. as data-access debate rages
Visa Inc. shut its open-banking business in the US amid regulatory uncertainty about consumer-data rights and the prospect of higher fees for customer information, according to people familiar with the matter.
Member of cybercrime gang that targeted banks gets 10 years
Scattered Spider, a cybercrime gang whose targets include banks, has seen five of its members arrested for SIM-swapping and phishing schemes that stole millions.
‘Synapse engaged in unfair acts’: CFPB files complaint
The Consumer Financial Protection Bureau has fined Synapse $1 for its role in a $60 million to $90 million shortfall in fintech users’ accounts.
NCUA board in limbo after judge stays reinstatements
A federal appeals court granted the government’s request to pause a ruling that briefly restored Democratic National Credit Union Administration board members Todd Harper and Tanya Otsuka, leaving the regulator with a single board member pending appeal.
Erik Porter named CEO of Cooperative Bank of Cape Cod
Erik Porter will succeed Lisa Oliver as president and CEO of the Cooperative Bank of Cape Cod; Gary Hall and Sobani Warner are named co-presidents of Siebert Williams Shank; Faiz Ahmad and Mike Joo will lead Bank of America’s global investment banking unit; and more in this week’s banking news roundup.
Maryland community bank bucks trend, pins hopes on mortgages
Bank of Glen Burnie, which is seeking to recover from a stretch when its assets declined, hopes that its deal for a residential lender can help boost loan production.
Fiserv pushes embedded payments for health care
Small practices are still mired in paper. Fiserv has joined banks such as JPMorganChase and Citizens in applying new third party transaction technology to the tricky sector.
Trump says he will fire Fed Gov. Cook ‘if she doesn’t resign’
The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her “if she doesn’t resign” over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.
Jay Leal
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Leaders_Gasan Awad
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