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New Center to Probe How Blockchain Can Help Government
The Chamber of Digital Commerce has opened a new outpost in the nation's capital. But instead of looking for a staid law office, the bitcoin advocacy group formed a partnership with the local incubator 1776 to launch the DC Blockchain Center.  more »
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Bloomberg News
IBM is introducing a set of new systems and tools to help banks in the U.S., Europe and Asia adapt to certain global initiatives to modernize financial services, including advancing real-time payments and sharing customer data with third parties through APIs. more »
Bloomberg News
Amex has been given the court's blessing to deter merchants from steering consumers away from its pricier cards, raising questions for those pushing newer loyalty strategies. more »
Bloomberg News
American Express Co. can prohibit merchants from steering customers to credit cards with lower transaction fees, a federal appeals court ruled in a case involving about $50 billion of merchant fees annually. more »
Bloomberg News
In 2010, lawmakers passed bipartisan reforms to bring transparency and competition to a debit card swipe fee market that had previously been void of both. Now, members of Congress want to undo that progress. more »
Certain bitcoin companies "do not hold customer funds, therefore they do not pose a solvency risk to consumers," said Coin Center's director of research Peter Van Valkenburgh.
Virtual currency advocates are hoping a recent surge of support in Congress can help them accomplish a long-sought goal of creating a safe-harbor for companies that do not directly hold customers' funds. more »
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At the start of its fourth decade, the Automated Clearing House — a payment method most commonly known for facilitating payroll direct deposits — has found itself firmly in the crosshairs of the card networks and alternative payment providers. more »
Troy Leach
Troy Leach, chief technology officer for the PCI Council, sat down with PaymentsSource to reflect on the council's performance to date and where it is headed in the coming years. more »
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Wells Fargo is saying so long to product sales goals for retail bankers, and the industry may never be the same. more »
Bloomberg News
"Rent-seeking" is a widely recognized economics term that refers to when people or groups try to obtain economic benefits for themselves through a subsidy in the political arena. In Washington, the term has special significance. Special-interest groups regularly try to gain subsidies by securing a special regulation that disadvantages competitors. more »
Bloomberg News
Wells Fargo & Co. eliminated product sales goals for its consumer bankers as the company seeks to reassure regulators, lawmakers and customers after employees opened card and deposit accounts without clients’ approval. more »
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Banks’ dilemmas around sharing data and embracing open payments technology are becoming a more urgent concern in Europe due to regulatory pressure, and fintech firms are starting to take notice. more »
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The Federal Financial Institutions Examination Council has released updated cybersecurity guidance for bank examiners. more »