Within an open banking environment, advances like pay by bank are transforming money movement. At its core, pay by bank allows consumers to make payments directly from their bank accounts, bypassing traditional intermediaries such as credit card networks, Trustly Chief Revenue Officer Frederick Crosby told PYMNTS. The process could transform the payment landscape by reducing friction for consumers and merchants.
Consumers’ financial health is worse in states where sports betting is legal, new research says. For instance, automobile loan delinquencies increased after U.S. sports gambling was legalized, according to a recent paper by researchers from the University of California, Los Angeles and the University of Southern California.
The Federal Trade Commission and the Department of Justice Antitrust Division (DOJ), together with the Department of Labor (DOL) and National Labor Relations Board (NLRB), signed a new agreement that will enhance ability of the FTC and DOJ to investigate the impact of mergers and acquisitions on labor markets.
Acting Comptroller of the Currency Michael J. Hsu today issued the following statement in support of his vote on a Federal Deposit Insurance Corporation (FDIC) resolution to support a safe, fair and inclusive workplace for all FDIC employees.
New York Department of Financial Services (“DFS”) Superintendent Adrienne A. Harris announced today that Nordea Bank Abp (“Nordea” or the “Bank”) has agreed to pay $35 million in penalties as part of a Consent Order entered into with the New York State Department of Financial Services (the “Department”) for significant compliance failures with respect to Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) requirements and the Bank’s failure to conduct proper due diligence of its correspondent bank partners.
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