Relationship finance app Tandem debuts new goals feature
The Ann Arbor, Michigan-based fintech is working with two Michigan credit unions to pilot a service that allows consumers to jointly save for purchases.
BMO drops anti-coal policy amid Wall Street rebuke of ESG
The change came to light Monday after West Virginia Treasurer Riley Moore took a victory lap in an announcement of the financial firms it was adding to its boycott list, which doesn’t include BMO.
We need more transparency and competition in international payments
Federal regulators need to mandate full disclosure of total costs for international money transfers, including all exchange rate markups, and to allow nonbanks access to the Fed’s payment system.
A material difference: The wood credit card takes root
It’s a substance that literally grows on trees, and is just as compostable. But like any other proposed alternative to first-use plastic, wood comes at a premium to any issuers that want to adopt it.
Is ‘technofeudalism’ killing capitalism?
Cloud-based tech giants like Amazon, Google and Uber are changing the economy, and not for the better, asserts Yanis Varoufakis, a former finance minister of Greece and a professor at the University of Athens, who has written a book about the dangers of what he calls the “cloudalists.”
Scott introduces measure to overturn CFPB late fee rule
Sen. Tim Scott, R-S.C., ranking member of the Senate Banking Committee, introduced a Congressional Review Act resolution to undo the Consumer Financial Protection Bureau’s credit card late fee rule.
Schumer presses Capital One, Discover on merger deal
Senate Majority Leader Chuck Schumer, D-N.Y., said that he would like to examine the proposed acquisition on “narrower bases.”
Young Women’s Leadership Award college scholarship: Apply now
The $5000 scholarship from American Banker and Discover is for high school seniors in New York City who are the first generation in their family to attend college. The deadline to apply is May 8, 2024.
CFPB warns banks of video games’ money laundering, fraud risks
A new report sheds light on the lack of player protections against scams and exploitive data collection practices of video game companies.
Dimon likens AI’s transformational potential to the steam engine
In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon wrote that the bank has identified more than 400 use cases for artificial intelligence across marketing, fraud and risk. It has also amassed thousands of AI experts and data scientists and begun exploring deploying generative AI.