Australia shares poised to open lower, NZ up

November 20, 2019 at 09:28PM Australian shares are expected to open lower on Thursday in line with Wall Street as investors are expected to exercise caution amid renewed concerns of the "phase one" trade deal between U.S. and China not being completed this year. Completion of a "phase one" U.S.-China trade deal could slide into … Continue reading Australia shares poised to open lower, NZ up

A digital bank in the Philippines is using smartphone data for underwriting

November 20, 2019 at 09:00PM CIMB Bank Philippines, a digital-only bank, is using data points from customers’ mobile phones, including the number of apps installed, calendar invites and the percentage of unread emails, to underwrite customers for personal loans. In a country where 77% of the population is underbanked, the personal loans are a move … Continue reading A digital bank in the Philippines is using smartphone data for underwriting

Envestnet Yodlee, Fintech Sandbox: Underserved customers still face obstacles

November 20, 2019 at 09:42PM As the number of digital finance platforms grow, the pool of consumers underserved by the financial system is cause for concern, industry practitioners said at a financial industry conference in New York this week. “There’s a whole host of reasons why we have 50 million Americans who still remain underserved … Continue reading Envestnet Yodlee, Fintech Sandbox: Underserved customers still face obstacles

Insurer MetLife to buy estate planning service provider Bequest

November 20, 2019 at 08:34PM U.S. insurer MetLife Inc said on Wednesday it would buy Bequest Inc, which helps customers draw up legally valid wills and estate planning documents online, for an undisclosed amount. The deal is the latest example of how group life insurers are stepping up efforts to compete in a marketplace that … Continue reading Insurer MetLife to buy estate planning service provider Bequest

WorldRemit opens Toronto office to help grow Canadian customer base

November 20, 2019 at 08:41PM U.K.-based digital money transfer company WorldRemit opened its Canadian headquarters in Toronto this week, a move that puts it in the midst of a growing market for cross-border payments solutions among immigrant populations. The company’s Canadian operations were based in Montreal since 2011, but Corey Myckan, Canada country director at … Continue reading WorldRemit opens Toronto office to help grow Canadian customer base

CFPB Updates Rulemaking Agenda for Fall 2019

November 20, 2019 at 08:39PM The Consumer Financial Protection Bureau today announced updates to its rulemaking agenda for 2019. Significantly, the bureau said that it is considering initiating a rulemaking or issuing guidance to address the interplay between Regulation Z and requirements under the Electronic Signatures in Global and National Commerce Act. The post CFPB … Continue reading CFPB Updates Rulemaking Agenda for Fall 2019

Fund investors continue retreat from U.S. stocks

November 20, 2019 at 08:04PM Investors pulled approximately $3.4 billion out of mutual funds and exchange traded funds that hold U.S. equities last week, extending the largest sustained pullback from the domestic stock market in more than a year, according to data released Wednesday by the Investment Company Institute. The outflows marked the seventh out … Continue reading Fund investors continue retreat from U.S. stocks

[Discussion] Can i regularly deposit large amounts into my account?

November 20, 2019 at 08:30PM So basically i have an opportunity to start a buisness relationship with a good friend who wants to send me around $2500-$3000 cash via western union. Afterwards i will buy products online and ship it to him and i will get to keep some of the cash for middle maning … Continue reading [Discussion] Can i regularly deposit large amounts into my account?

Slowing Global Growth, Trade Uncertainties Cited in FOMC Rate Cut Decision

November 20, 2019 at 08:32PM Concerns about a slowdown in global growth and trade uncertainties remained prominent factors in the Federal Open Market Committee’s decision to cut interest rates by 25 basis points at the last FOMC meeting, according to minutes released yesterday. The post Slowing Global Growth, Trade Uncertainties Cited in FOMC Rate Cut … Continue reading Slowing Global Growth, Trade Uncertainties Cited in FOMC Rate Cut Decision

[Discussion] Bank froze account due to ACH deposits not addressed to me. Added my friend as co-owner but no response from bank.

November 20, 2019 at 07:38PM Writing isn't my best skill so I hope I explain this correctly. Thank you for your help. **My friend was not trying to evade taxes. He was planning to report his 1099-MISC income and just needed a bank account to receive funds. I'll precursor this by saying that I realized … Continue reading [Discussion] Bank froze account due to ACH deposits not addressed to me. Added my friend as co-owner but no response from bank.

ABA Issues Recommendations to Promote Responsible Financial Data Sharing

November 20, 2019 at 06:04PM In a statement submitted for the record in tomorrow’s House Financial Services Committee fintech task force hearing, ABA highlighted the importance of protecting consumers when they choose to share their financial data with third parties. The post ABA Issues Recommendations to Promote Responsible Financial Data Sharing appeared first on ABA … Continue reading ABA Issues Recommendations to Promote Responsible Financial Data Sharing

Legal breaches allowed Westpac customers to pay for child sex undetected, Austrac alleges

November 20, 2019 at 05:00PM Agency alleges Westpac failed to monitor 12 customers who made transactions consistent with child exploitation typologiesWestpac’s failure to obey anti-money laundering and counter-terror finance laws allowed a customer to make payments to a person in the Philippines who was later arrested for child sex trafficking and livestreaming child sex shows, … Continue reading Legal breaches allowed Westpac customers to pay for child sex undetected, Austrac alleges

Podcast: Celebrating Bankers’ Community Commitment

November 20, 2019 at 05:01PM The latest episode of the ABA Banking Journal Podcast continues a pre-Thanksgiving tradition by interviewing the winners of ABA's 2019 Community Commitment Awards. These stories present the perfect inspiration as we prepare for the season of thanks and giving. The post Podcast: Celebrating Bankers’ Community Commitment appeared first on ABA … Continue reading Podcast: Celebrating Bankers’ Community Commitment