WASHINGTON—The Consumer Financial Protection Bureau and the Maryland Attorney General Thursday fined Wells Fargo $24 million and JPMorgan Chase $600,000 for an alleged illegal marketing-services-kickback scheme they participated in with Genuine Title, a now-defunct title company.
NEW YORK—There are seven mobile banking debit card management tools available that not only help FIs save money and prevent fraud, they drive adoption of the digital wallet, according to one new analysis.
WATERFORD CITY, N.D.—Hoping to bring about change in this state, including directing more oil tax revenue to local districts short of infrastructure funds to support the Dakotas oil boom, the CEO of Dakota West CU is now a member of the North Dakota House of Representatives.
RALEIGH, N.C.—President Obama is expected to recognize State Employees’ CU here for providing members with free FICO scores, a program the $29-billion credit union says is being well received by members.
MADISON, Wis.—As CUToday.info explores during 2015 how well CUs are building relationships with new members, CUNA Mutual Group’s chief economist, Steve Rick, said the latest data show credit unison are doing a good job of cross-selling new members.
SAN DIEGO—Apple Pay is generating greater interest in mobile payments among consumers, financial institutions and merchants, but don’t expect 2015 to be the year mobile wallets take off.
BALTIMORE—Securityplus FCU is one of the first CUs in the country to test facial recognition biometric software for member authentication, and it is launching the technology at the same time it introduces a sophisticated member service kiosk.
LAKE FOREST, Ill.—Surveying the 2014 financial marketplace, Moebs $ervices has identified 10 events—the five worst and five best—that it says will continue to impact financial Institutions in 2015.
NEW YORK—Looking to buy just the right item with those gift cards you received during the holidays? How about “hack-proof” pants? A new line of clothing is being sold that promises to protect the wearer from “digital identify theft” by blocking electronic scanners that could otherwise steal consumers’ card data even while cards are still in one’s pockets.
COSTA MESA, Calif.—Expect more attacks on the cloud, U.S. EMV adoption to drive even more breaches, and the “Internet of Things” to emerge as another hacker target in 2015, forecasts Experian.