PayNearMe has announced a partnership with GOLDPoint Systems, aiming to enhance payment options for borrowers and reduce operational expenses for lenders. This collaboration integrates PayNearMe's payment platform with GOLDPoint Systems' loan management software, offering expanded payment methods.
SoFi Technologies, Inc. and PrimaryBid Technologies Inc. have introduced DSP2.0, a Directed Share Platform aimed at modernizing equity program management for companies seeking to raise capital in the U.S. The platform is designed to streamline processes that have traditionally been manual and costly.
Bank of America has introduced Virtual Payables Direct, expanding its Virtual Payables capabilities in the EMEA region. This new business-to-business payment solution offers buyers the usual working capital benefits of card transactions, such as extended payment terms, and adds the ability for suppliers to be paid via direct bank transfer. The global B2B payments market is growing rapidly and is projected to reach over $2.4 trillion by 2031.
The American Financial Services Association's (AFSA) State Government Affairs team has released its October white paper, focusing on the "buy now, pay later" (BNPL) services. This release comes amid the growing popularity of BNPL services, driven by the increase in online shopping.
In recognition of Cybersecurity Awareness Month, the Independent Community Bankers of America (ICBA) and community banks across the nation are providing guidance to help consumers safeguard their financial information against cyber threats. “In...
Rocket Mortgage and Annaly Capital Management, Inc. have announced a new subservicing agreement. Under this partnership, Rocket Mortgage will manage servicing and recapture activities for a portion of the mortgage servicing rights held by Annaly.
The featured business partner for October is ACI Worldwide. Known for its leadership in billing and payments, ACI Worldwide offers ACI Speedpay, which aims to drive efficiency and increase collections.
The American Fintech Council (AFC) has announced its support for the Promoting and Advancing Communities of Color Through Inclusive Lending Act, a bill sponsored by Representative Maxine Waters (D-Calif.). The legislation aims to enhance lending services for low- and moderate-income consumers and communities of color by improving technological capabilities in community development financial institutions (CDFIs) and minority depository institutions (MDIs).
The Independent Community Bankers of America (ICBA) has announced the appointment of René Shonerd as its new executive vice president and chief information officer.
PayNearMe, a fintech company based in Santa Clara, California, has reported substantial growth in its lending sector over the past 18 months. The company's platform expansion has resulted in significant increases in transaction volume and new client acquisitions among auto dealers and personal lenders.
The remnants of Hurricane Helene continue to impact the inland southeast, causing significant devastation, particularly in eastern Tennessee and western North Carolina. The American Financial Services Association (AFSA), along with its member companies and business partners, has expressed support for those affected by this tragedy.
Washington, D.C. – Senator Tim Scott (R-S.C.) has joined Senator Bill Hagerty (R-Tenn.), Representative Andy Barr (R-Ky.-06), and other colleagues in urging Treasury Secretary Janet Yellen and senior Biden-Harris administration officials to address what they see as regulatory overreach from the European Union (E.U.). The concern stems from the E.U.'s Corporate Sustainability Due Diligence Directive (CSDDD), adopted in May, which enforces progressive social and climate policies on international businesses, including those based in the United States.
WILMINGTON, DE / BETHESDA, MD – September 26, 2024 – The Marriott Bonvoy Bold® Credit Card from Chase has announced the launch of the Bold Chat Court contest. This initiative aims to transition group trip plans from discussions in group chats to actual travel experiences. Halle Bailey, an award-winning singer-songwriter and actress, has partnered with the Marriott Bonvoy Bold® Card to distribute a total of 5 million Marriott Bonvoy points to 10 travelers, each receiving 500,000 points.
Several trade associations, including the American Financial Services Association (AFSA), have expressed their support for Representative Andy Ogles' (R-TN) Congressional Review Act aimed at nullifying the Consumer Financial Protection Bureau's (CFPB) rule to establish a "repeat offender" registry. The associations argue that the proposed registry will not benefit consumers and may lead to higher costs for financial products while reducing access to credit.
The American Financial Services Association (AFSA) has raised concerns regarding a proposed rule by the Federal Communications Commission (FCC) that would require handsets to be unlocked even if the installment contract has not been paid off. AFSA's letter to the FCC outlines three primary issues with this proposal.
Bank of America has introduced a new banking solution aimed at helping parents guide their children in developing sound financial habits. The product, SafeBalance Banking® for Family Banking, is designed to provide parents with the necessary tools and resources to teach their children money management through a secure digital platform.
Electronic Payments Coalition (EPC) Executive Chairman Richard Hunt issued a statement on Senator Dick Durbin’s recent legislation targeting American companies and workers who have opposed the Durbin Marshall Credit Card Bill.
Senator Tim Scott (R-S.C.) has introduced the Empowering Main Street in America Act, aimed at revitalizing businesses and broadening access to capital markets. The legislation has garnered support from a diverse group of stakeholders.
The House Financial Services Subcommittee on Financial Institutions and Monetary Policy, chaired by Andy Barr (KY-06), is conducting a hearing titled "Regulatory Recipe for Economic Uncertainty: The Endless Basel Endgame and an Onslaught of Hurried Rulemaking Undertaken by the Administration."
The American Fintech Council (AFC) has expressed support for the Department of the Treasury's recent approach to artificial intelligence (AI) in the financial services sector. Ian P. Moloney, AFC's Senior Vice President and Head of Policy and Regulatory Affairs, commended the Department’s efforts.