CFPB charges Navy Federal Credit Union $95 million for overdraft and junk fees
The Consumer Financial Protection Bureau (CFPB) has charged the US’s largest credit union for illegally charging users overdraft fees.
Fed Governor touts ‘skinny’ masters accounts to promote payments innovation
The Federal Reserve is exploring the introduction of a “skinny” master account that would give access to basic Fed payment services to fintechs and other providers that currently have to work with third-party banks, says Governor Christopher Waller.
Sustainable Finance Live 2024: 4 days to go!
Finextra’s annual Sustainable Finance Live conference will be held at Events@No6 in London next week.
Money 20/20 Europe 2019: Is Open Banking a complete fiasco?
On the Industry Transmutation stage at Money 20/20 Europe 2019 in Amsterdam, Dave Birch, global ambassador at Consult Hyperion opens an afternoon of sessions on Open Banking and the potential it has to reshape the way the financial services industry works.
APImetrics and Finextra launch open access fintech, open banking and crypto API data dashboard
Finextra Research and APImetrics – the industry’s only analytics-driven API performance solution provider – have collaborated to offer the first open access dashboard that will monitor real-world performance of fintech, open banking, PSD2 payments and crypto APIs.
BBVA gets agile as scrum teams tear up the bank IT rule book
Spanish bank BBVA now has 500 staff members working in small scrum teams to rush through the development of new projects, representing a five-fold increase over the past year.
Exabel closes $3.6m funding round
A startup that offers AI analytics to asset managers has raised $3.6m in its third funding round bringing the total capital raised to more than $12m.
Deutsche Börse invests in capital markets fintech Primary Portal
Primary Portal, a digital platform that aggregates and digitises equity capital market processes for banks and asset managers, has completed the first stage of its £7.5 million Series A funding round led by the venture capital arm of Deutsche Börse.
BofE sets out model for delivering National Payments Vision
The UK is overhauling its approach to retail payments infrastructure, with a greater role for the Bank of England and the creation of a new industry-led delivery company to work alongside Pay.UK.
Neocova secures $9.5 million in funding from community banking customers
A host of US community banks have rallied around to pump $9.5 million into AI-based, API-driven banking technology supplier Neocova.
Investing.com unveils AI-driven financial researcher
Investing.com, a provider of financial news, tools and data to retail investors, has launched an AI-driven researcher called WarrenAI.
UK payment firms push back on APP fraud refund plan
Payments firms are calling for a rethink of UK plans to protect victims of APP fraud, arguing that a refund cap of £415,000 will hurt smaller providers.
Sibli raises $4.5m for AI-powered investment research
Sibli, a startup using AI to help asset managers in the investment research process, has raised $4.5 million in seed funding.
CFTC takes aim at ID discovery in DeFi
The Commodity Futures Trading Commission (CFTC) is urging policymakers to address identity issues in Decentralized Finance (DeFi) operations.
BIS and Bank of England complete CBDC project
A pilot project involving central bank digital currencies (CBDCs) jointly run by the Bank of England (BoE) and the Bank of International Settlements (BIS).