Europe pushes real-time transactions; Dutch bathrooms boost mobile pay
A new EU law that requires interoperability and universal support for instant processing goes into effect this week, providing clarity that the U.S. lacks, while ABN Amro says restrooms generate transaction revenue. That and more news in this week’s global payments roundup.
Meet four new lawmakers likely to have an impact on banking
Several crypto-friendly voices join the Senate Banking Committee from Nebraska and Ohio, while Democrats leave a banking policy expert off the House Financial Services Committee.
Ally to end mortgage originations, cut jobs
Ally Financial Inc. will cut jobs, end mortgage originations and consider strategic alternatives for its credit-card business as borrowers have struggled to pay down costly debt.
Fed’s Waller unconcerned about ‘draconian’ tariff policy
In a Wednesday morning speech, the Federal Reserve Gov. Christopher Waller said President-elect Donald Trump’s nascent trade policy will likely lead to a one-time jump in prices rather than broader inflationary pressure. He also said he expects further interest rate cuts in 2025.
Change in DC bolsters business owner sentiment, bank surveys show
Heightened expectations for increased economic activity could boost loan demand after a soft 2024.
Think AI will replace human bankers? Don’t bank on it.
Banking relies far too much on human relationships and trust for it to hand over essential questions about perception and judgement to artificial intelligence. The need for human bankers will always exist.
20 banks and thrifts with the most C&I loans
The top five banks with the largest portfolios of commercial and industrial loans had more than $1.03 billion when combined.
Why ‘green’ cards are falling short of revenue expectations
Credit card issuers for years have looked beyond plastic materials to keep their cards top of mind and top of wallet. But just how much does the credit card material actually affect consumers’ spending habits?
Finastra hires Chris Walters to be its new CEO
Former Avantax executive Walters is replacing Simon Paris as Finastra’s CEO.
CFPB sues Experian for mishandling credit report errors
Experian said it has gone “above and beyond the law” to investigate consumer disputes related to the accuracy of information.