Credit Unions Take Aim at Cyber Fraud
After a year when credit unions have been victimized by a series of hacking attacks, the National Credit Union Administration is taking action. The NCUA has sent a letter to credit union boards of directors and CEOs highlighting the risk of cyberattacks at these institutions. “Given the proliferation of sophisticated information security threats and the […]
Dwolla Instant Payments Platform to Expand Plaid Integration
Open-banking platform Dwolla, which allows businesses to integrate into the U.S. instant payments rails, will expand its partnership with data firm Plaid. The new integration will bring Plaid’s instant account verification and risk assessment functionalities to Dwolla’s pay-by-bank operations as soon as next year. Businesses will also be able to onboard to Dwolla using Plaid, […]
Neglecting Payment Reconciliation: The Hidden Threat to Business Stability and Growth
For any business, payment reconciliation may not be the most glamorous task, but it’s certainly one of the most critical. The process of ensuring that all transactions align accurately between the accounting books and bank statements is a cornerstone of financial integrity. Yet, it’s often overlooked or neglected, especially as businesses grow and operations become […]
Why Goldman’s Exit from the Apple Card Got $89 Million Messier
The Consumer Financial Protection Bureau’s $89 million fine of Goldman Sachs and Apple for mismanagement of the Apple Card was a development many industry insiders could have seen coming. As Goldman continues its retreat from consumer lending, the CFPB now says, in addition to the massive fine, the investment bank is banned from offering new […]