Friday April 27, 2018 –
Here are the new and noteworthy stories we have been following this week.
Zelle, the Banks’ Answer to Venmo, Proves Vulnerable to Fraud
Zelle is popular and growing – but faces security and risk issues.
https://www.nytimes.com/2018/04/22/business/zelle-banks-fraud.html
Visa Inc. Reports Fiscal Second Quarter 2018 Results
Visa reported net operating revenue of $5.1 billion for Q2 and 29.3 billion in processed transactions.
https://s1.q4cdn.com/050606653/files/doc_financials/2018/Q2/Visa-Inc.-Q2-2018-Financial-Results.pdf
PayPal Reports First Quarter 2018 Results
PayPal reported Q1 revenue of $3.69 billion and 2.2 billion payment transactions.
https://investor.paypal-corp.com/releasedetail.cfm?ReleaseID=1065039
Your local post office could become a bank if this bill passes
A bill put forth by Sen. Kirsten Gillibrand, D-N.Y., aims to make loans more affordable by offering retail banking services at the U.S. Postal Service.
Otting Previews OCC Actions on CRA, BSA, Small-Dollar Loans
The OCC’s top policy priorities are changing regulations on the Community Reinvestment Act, the Bank Secrecy Act and small-dollar lending, Comptroller of the Currency Joseph Otting said today at the American Bankers Association’s Government Relations Summit.
Discover Financial Services Reports First Quarter Net Income of $666 Million or $1.82 Per Diluted Share
Discover reported net income of $666 million for Q1 – credit card loans were up 10% to $65.6 billion.
Digital-Banking Startup Revolut Is Worth $1.7 Billion With New Funding
Revolut raises $250 million in Series C funding at a valuation of $1.7 billion.
Brazil’s Central Bank authorizes peer-to-peer lending
Brazil’s Central Bank on Thursday released rules for credit start-ups that include authorization for peer-to-peer lending.
Why Amazon and Google Haven’t Attacked Banks
Banks are rapidly emerging as big potential customers for the cloud computing businesses of Amazon, Alphabet, and Microsoft.
https://www.wsj.com/articles/why-amazon-and-google-havent-attacked-banks-1524758594
PayPal joins $44 million investment in card-linked cashback startup Dosh
Dosh raises $44 million in a Series A round.
Deutsche Bank likely to axe 1,000 U.S. investment bank jobs: source
Deutsche scaling back global investment banking.
Mexican Banks Targeted in Cyber Attack
Three banks experienced “incidents” in recent days when operating the SPEI, Mexico’s interbank electronic transfer system.
Pimco-Backed Online Loan Platform GreenSky Files for U.S. IPO
GreenSky files for an IPO.
