Citi shuffles leaders, revamps retail biz as CFO plans exit

Incoming CFO Gonzalo Luchetti will take over as the megabank pursues key financial targets in 2026.

https://www.americanbanker.com/news/citi-shuffles-leaders-revamps-retail-biz-as-cfo-plans-exit

#FinTech #FinServ #Banking

Citi shuffles leaders, revamps retail biz as CFO plans exit

The megabank laid out a series of changes, including the impending departure of its chief financial officer and other executive shifts related to a revamp of its U.S. personal banking line of business.

American Banker

Block eyes services for preteens

The company aims to make savings and card services available on its Cash App digital wallet for preteens. The tools would presumably be managed by parents.

https://www.paymentsdive.com/news/block-eyes-services-for-preteens/806050/

#FinTech #FinServ #Banking #Payments #PayTech

Block eyes services for preteens

The company aims to make savings and card services available on its Cash App digital wallet for preteens, according to a Wednesday presentation. The tools would presumably be managed by parents.

Payments Dive

This #GhostTapping scam can steal money from your mobile wallet or card - how to block it

Scammers or fake vendors can exploit tap-to-pay and NFC transactions to steal money from your credit card or mobile wallet. Here's what you need to know to stop them.

https://www.zdnet.com/article/this-ghost-tapping-scam-can-steal-money-from-your-mobile-wallet-or-card-how-to-block-it/

#FinTech #FinServ #Banking #Payments #PayTech #CyberSecurity

This ghost tapping scam can steal money from your mobile wallet or card - how to block it

Scammers or fake vendors can exploit tap-to-pay and NFC transactions to steal money from your credit card or mobile wallet. Here's what you need to know to stop them.

ZDNET

How BMO built an employee-driven social media strategy

BMO's earned media value rose from under $100K to nearly $1 million in 2022.

https://www.americanbanker.com/news/how-bmo-built-an-employee-driven-social-media-strategy

#FinTech #FinServ #Banking #DigitalMarketing

How BMO built an employee-driven social media strategy

The Montreal-based bank brought its earned media value up to $1 million by building an internal system for employees to share social posts about BMO.

American Banker

Dems dig into #BNPL

A group of Democrats queried seven buy now, pay later companies for information about who uses their services and how often.

https://www.paymentsdive.com/news/senate-dems-demand-bnpl-industry-info-consumer-loans/806167/

#FinTech #FinServ #Banking

Dems dig into BNPL

A group of Democrats queried seven buy now, pay later companies for information about who uses their services and how often.

Payments Dive

Smaller bank has a taste for big loans

Limiting the scope of its lending and backing its loans with first liens on tangible assets has helped the $17 billion-asset Beal Bank USA succeed with a strategy aimed at doing nine-figure deals without partners.

https://www.americanbanker.com/news/smaller-bank-has-a-taste-for-big-loans

#FinTech #FinServ #Banking

Smaller bank has a taste for big loans

A recent $450 million loan is par for the course at Beal Bank USA, which has developed a reputation for seeking out nine-figure loans backed by tangible property.

American Banker

How consumers see card threats

Many card users say their card issuers haven’t prompted them to take security precautions recently, a J.D. Power survey showed.

https://www.paymentsdive.com/news/consumers-want-more-card-fraud-protection-survey/806174/

#FinTech #FinServ #Banking #Payments #PayTech

How consumers see card threats

Many card users say their card issuers haven’t prompted them to take security precautions recently, a J.D. Power survey showed.

Payments Dive

The latest move from the Trump administration’s CFPB feels like it was pulled straight from Orwell’s 1984.

Mandatory humility isn’t humility.
It’s intimidation dressed up as virtue.

https://buff.ly/pAOurPc

#FinTech #FinServ #Banking #Kakistocracy

Banks face challenges ahead of today's ISO 20022 deadline

SWIFT ends support for older non-ISO 20022 payment messaging standards today.

https://www.americanbanker.com/payments/news/banks-face-challenges-ahead-of-saturdays-iso-20022-deadline

#FinTech #FinServ #Banking #Payments #PayTech

Banks face challenges ahead of Saturday's ISO 20022 deadline

The migration to the standard and its more robust data is underway, but experts say the desired reduction in payment errors will come slowly.

American Banker

#Stablecoins are going to reduce CRA funding to underserved communities

If the loophole in the GENIUS Act isn't closed, the flow of money into stablecoins will wind up reducing the Community Reinvestment Act funding that many underserved communities rely on for development, writes Kevin Kimble.

https://www.americanbanker.com/opinion/stablecoins-are-going-to-reduce-cra-funding-to-underserved-communities

#FinTech #FinServ #Banking

Stablecoins are going to reduce CRA funding to underserved communities

If the loophole in the GENIUS Act isn't closed, the flow of money into stablecoins will wind up reducing the Community Reinvestment Act funding that many underserved communities rely on for development.

American Banker