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JPMorgan, Mastercard Partner on New Pay-by-Bank Service

Account Recovery

JPMorgan Chase and Mastercard have announced a partnership that will enable consumer data to be shared by “trusted” entities and allow consumers to pay bills from their bank account with greater ease and security. The post JPMorgan, Mastercard Partner on New Pay-by-Bank Service appeared first on AccountsRecovery.net.

Banks 246
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Regions Bank Fined for Surprise Overdraft Fees

Account Recovery

In a consent order that was announced yesterday with the Consumer Financial Protection Bureau, Regions Bank has agreed to pay $191 million in fines and restitution after it was accused of charging its customers “illegal surprise” overdraft fees on certain purchases. A copy of the consent order can be accessed by clicking here.

Banks 244
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Bank Regulators Release New Examination Procedures for FDCPA Compliance

Account Recovery

A copy of the revised procedures … The post Bank Regulators Release New Examination Procedures for FDCPA Compliance first appeared on AccountsRecovery.net. The post Bank Regulators Release New Examination Procedures for FDCPA Compliance appeared first on AccountsRecovery.net.

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CFPB Fines Bank $9M For Failing to Properly Manage Credit Card Disputes, Fraud Claims

Account Recovery

The Consumer Financial Protection Bureau yesterday announced a $9 million settlement with Citizens Bank over a lawsuit that was filed in 2020 accusing the financial services giant of failing to properly manage disputes and fraud claims filed by the bank’s credit card customers.

Banks 130
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ERM Program Fundamentals for Success in the Banking Industry

Speaker: William Hord, Senior VP of Risk & Professional Services

Does our bank understand and support the importance of a strong ERM program to continue to position our company for growth? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk? Are we leveraging risk velocity and vulnerability to obtain more granular residual risk results?

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AGs Call on Big Banks to End Overdraft Fees

Account Recovery

A group of 18 state attorneys general sent letters to four of the largest financial institutions in the country this week, urging them to stop charging overdraft fees on consumers by this summer, and while the states did not make any threats in the letter about what would happen if the banks chose not to … The post AGs Call on Big Banks to End (..)

Banks 246
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ABA CEO: CFPB Can’t ‘Bully’ Banks

Account Recovery

The president and chief executive of the American Bankers Association yesterday pushed back against the Consumer Financial Protection Bureau and its attempts to “bully” banks and financial institutions into eliminating “perfectly legal or legitimate” fees.

Banks 130
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Exploring the Overlap: Cost Optimization and Digital Transformation

Speaker: Alex Jiménez, Managing Principal, Financial Service Consulting for EPAM

From a budget standpoint, US banks are feeling the pinch. Many US banks are bracing for increased defaults and lower demand for mortgages and other loans as interest rates have increased. The largest banks have increased reserves to protect against deteriorating economic conditions. Global economic conditions are soft at best.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers. The experiences of every generation are characterized by their behaviors involving finances.

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Everything You Need to Know About Crypto

Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy

May 18th, 2023 at 9:30 am PDT, 12:30 pm EDT, 5:30 pm BST

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The Anti-Money Laundering Act of 2020: Initial Catalysts, Current Implications, and Future Impacts

Speaker: Elizabeth "Paige" Baumann, Founder and CEO of Paige Baumann Advisory, LLC

Paige Baumann will walk us through the impacts of the AMLA, and you'll leave this session with a new understanding of: The catalysts for this new law and how it amended the Bank Secrecy Act of 1970 Rulemaking and other actions taken by the U.S. The AMLA represents the most significant changes in U.S.

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How Preparation and Strategy Can Be Used to Fight and Defeat Any Ransomware Attack

Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP

As a result, data protection needs to be a concern for most banks, businesses, and information technology specialists. million attacks, the threat marked a 148% increase compared to 2020 and was the most expensive year on record! It’s mindboggling, but right now for 49% of respondents, cybersecurity is their primary business concern.