Green Dot Puts Banks in the CrosshairsJanuary 15, 2013The prepaid financial services company launched GoBank, which it says is a mobile bank account for the smartphone generation.
Fiserv Acquires Competitor Open SolutionsJanuary 15, 2013Fiserv acquired Open Solutions in a deal announced this morning, adding Open Solutions' technologies - such as parts DNA core processing platform - to Fiserv's offerings.
PayPal Adds Gas Stations, Grocery Stores in Retail PushJanuary 14, 2013PayPal unveiled new deals
with a chain of gas stations and a grocery store operator on
Monday, as the payments division of eBay Inc tries to
expand its service further into physical retail locations.
Security is Final Hurdle to Mass Mobile Payments AdoptionJanuary 14, 2013A paper by the Federal Reserve Bank of Boston finds that the ultimate broad adoption of mobile payments will be largely correlated with the security of each mobile platform; and that consumer education and stakeholder collaboration will be equally crucial
Oracle Updates Java, Security Experts Say Bugs RemainJanuary 13, 2013Oracle Corp released an
emergency update to its Java software for surfing the Web on
Sunday, but security experts said the update fails to protect
PCs from attack by hackers intent on committing cyber crimes.
JPMorgan Chase Faces U.S. Order to Improve ComplianceJanuary 11, 2013A U.S. regulatory probe of JP
Morgan Chase & Co is expected to result in an order that
the bank correct lapses in how it polices suspect money flows,
in an action expected as soon as Friday, people familiar with
the situation said.
American Express to Cut 5,400 JobsJanuary 10, 2013Credit card company American Express Co
said it would cut about 5,400 jobs, or 8.5 percent of
its workforce, as it restructures its business and pay legal
bills.
Morgan Stanley Job Cuts May Signal More Pain AheadJanuary 09, 2013Morgan Stanley plans to slash 1,600
jobs in what may be just the beginning of a new round of layoffs
at large investment banks, this time driven by a deeper
reassessment of Wall Street businesses in the face of new
regulations and capital standards.
Senator Pushes to Ban Bankers From Fed BoardroomsJanuary 09, 2013An outspoken Senate critic of
the Federal Reserve said on Wednesday that he would reintroduce
legislation to ban bankers from the boardroom of the 12 regional
Fed branches, citing potential conflicts of interest.
Mobile Banking to Exceed One Billion Users by 2017January 09, 2013A new report from Juniper Research also predicts that China, North America and Western Europe will have the highest penetration of mobile banking users.
New Currency Exchange Platform Launched in U.S.January 08, 2013USForex, a subsidiary of Sydney-based OzForex Group, allows clients to make international foreign payments and money transfers.
Looser Bank Buffer Rules No Panacea For Europe, U.S.January 07, 2013A decision by global
regulators to give banks more time and flexibility to build cash
reserves will not boost lending or speed recovery in
debt-strapped Europe, where firms and households have scant
appetite to borrow.
FundTech Introduces New President and COOJanuary 07, 2013Edward Ho, formerly of Misys, was named as the new president and COO of Fundtech after the departure last week of two of the company's top executives.
Celent Report Explores Top Payments TrendsJanuary 07, 2013Celent released its annual report on the top 10 trends in today's retail payments market, which focused on digital wallets, regulations and alternative payments.
U.S. Regulators Give Banks Time to Spin Off Swap TradingJanuary 03, 2013Banks could have up to three
extra years to comply with a new U.S. rule requiring firms that
receive federal deposit insurance to spin off some of their
swaps trading into separate arms, U.S. regulators said on
Thursday.
Android, iPhone are Top Fraud Targets, Study FindsJanuary 02, 2013A Javelin Strategy & Research report on mobile payments found that the two most popular smartphone platforms are targets for fraudsters.
Passage of Bill to Avoid 'Cliff' Should Bolster Wall StreetJanuary 01, 2013U.S. stocks are poised for gains
to begin the year after the late passage of a bill to avoid
harsh tax hikes that would have hit most Americans and crimped
economic growth.
RBS Wins Dismissal of Lawsuit by South Korea's WooriDecember 27, 2012Royal Bank of Scotland Group
Plc on Thursday won the dismissal of a lawsuit by South
Korea's Woori Bank over losses from mortgage-related
investments, in a case between two big banks put under state
control following financial crises.
Wells Fargo Doesn't Have to Pay Clients $203 Million: CourtDecember 26, 2012A U.S. appeals court
vacated an injunction and a $203 million restitution order
against Wells Fargo & Co in consumer litigation over the
bank's overdraft policies, according to a ruling issued on
Wednesday.
