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The importance of liveness detection was one positive development arising from the COVID-19 pandemic. It’s an essential feature of a biometric-based security strategy, iProov chief product and innovation officer Joe Palmer said.
The SEC has not had a great track record in court cases against crypto firms in the last few months. And another important case is playing out right now in a New York federal courtroom.
Back in June of last year the SEC sued Coinbase arguing that it was operating illegally and that it should register as an exchange and be overseen by the SEC.
Lenders’ delinquency strategy must be rooted in an “empathy-first” model to support customers in experiencing hardship. Customers in distress need support and resources, not shame.
As the cryptocurrency and blockchain industries mature, they must prepare for a downside to their success - patent trolls. As technology charts clear routes and more money is at stake, Dykema patent attorney Michael Word said cryptocurrency will be the next patent battlefield.
The long-awaited new overdrafts rule from the CFPB was unveiled today.
Since Rohit Chopra took over as head of the CFPB in 2021, they have made it clear that they were going after overdraft fees and this proposed rule is the culmination of those efforts.
There are new ways for Americans to build their emergency savings today from a new government program offered through retirement plans to new fintech offerings.
Today, a new global report was released from Nasdaq and Oliver Wyman on illicit money flows and the numbers are sobering.
The Global Financial Crime Report quantifies the total amount of illicit financial activity and the number is an eye-popping $3.1 trillion. Included in this number is bank fraud covering payments, checks and credit card fraud which is estimated at around $450 billion.
The new Mighty Oak Visa debit card from Acorns has a solid foundation for success says a representative from long-time partner Helix by Q2. GM Ahon Sarkar said he’s not surprised by Acorns’ prosperity since the two companies first partnered seven years ago, which is an eternity in fintech.
The impact of AI in financial services will gain a renewed focus on Capitol Hill.
There has been an AI task force on the House Financial Services Committee for some time but we learned late last week that a new bipartisan working group on AI has been formed.
Two years ago, before the crypto meltdown of 2022, stablecoin issuer Circle announced that it was going to go public via SPAC at a $9 billion valuation.
But then, you know, 2022 happened (Celsius, 3AC, Luna, BlockFi, FTX, etc). So plans were quietly shelved in December of that horrible year for crypto.