How Can a Major Bank Like Capital One Be Offline for 24 Hours?
(nbcnews.com)
Capital One said an unspecified technical issue was hampering customer account access Thursday, as some users reported issues with direct deposits.
Capital One said an unspecified technical issue was hampering customer account access Thursday, as some users reported issues with direct deposits.
AmEx to Pay $108.7M for Deceptive Marketing and "Dummy" Account Information
(justice.gov)
The American Express Company (American Express), based in New York, New York, has agreed to pay a $108.7 million civil penalty to resolve allegations that it violated the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) by deceptively marketing credit card and wire transfer products and by entering “dummy” Employer Identification Numbers in the credit card accounts of its affiliate bank.
The American Express Company (American Express), based in New York, New York, has agreed to pay a $108.7 million civil penalty to resolve allegations that it violated the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) by deceptively marketing credit card and wire transfer products and by entering “dummy” Employer Identification Numbers in the credit card accounts of its affiliate bank.
Will FedACH process ACH payments on the National Day of Mourning, Jan 9, 2025?
(moderntreasury.com)
On Thursday, January 9, 2025, the United States will observe a national day of mourning to honor the late President Jimmy Carter. While this is not a federal holiday, it has raised questions about business and banking operations.
On Thursday, January 9, 2025, the United States will observe a national day of mourning to honor the late President Jimmy Carter. While this is not a federal holiday, it has raised questions about business and banking operations.
International Bank Note Society
(theibns.org)
The International Bank Note Society (IBNS) announces that its voting membership has for the first time selected the Eastern Caribbean Central Bank to receive its annual prestigious “Bank Note of the Year Award” for 2023.
The International Bank Note Society (IBNS) announces that its voting membership has for the first time selected the Eastern Caribbean Central Bank to receive its annual prestigious “Bank Note of the Year Award” for 2023.
CFPB sues Chase, BofA, and Wells Fargo for allowing fraud to fester on Zelle
(consumerfinance.gov)
Americans have lost hundreds of millions of dollars to fraud tied to payment network’s shoddy safeguards
Americans have lost hundreds of millions of dollars to fraud tied to payment network’s shoddy safeguards
Private Credit Wants to Be the Bank
(bloomberg.com)
One of the big stories of modern finance is the rise of narrow banking in the form of private credit.
One of the big stories of modern finance is the rise of narrow banking in the form of private credit.
Bank of North Dakota
(wikipedia.org)
The Bank of North Dakota (BND) is a state-owned, state-run financial institution based in Bismarck, North Dakota.
The Bank of North Dakota (BND) is a state-owned, state-run financial institution based in Bismarck, North Dakota.
Office Property Meltdown Is Starting to Surface at Regional Banks
(bloomberg.com)
Slumping office property values are rippling through US banks, with smaller lenders in particular ramping up the use of loan modifications in their commercial real estate books.
Slumping office property values are rippling through US banks, with smaller lenders in particular ramping up the use of loan modifications in their commercial real estate books.
Ask HN: Why do banking apps care about your phone OS
(ycombinator.com)
Many banking apps require a non rooted phone and up to date OS, but even those phones can run a browser which provides access to the bank website, often with more functionality than the app.
Many banking apps require a non rooted phone and up to date OS, but even those phones can run a browser which provides access to the bank website, often with more functionality than the app.
Synapse still can't find its money
(bloomberg.com)
When you deposit money at a bank, you expect the bank to give it back to you.
When you deposit money at a bank, you expect the bank to give it back to you.
FDIC accidentally reveals the Silicon Valley Bank depositors it bailed out (2023)
(fortune.com)
When federal regulators stepped in to backstop all of Silicon Valley Bank’s deposits, they saved thousands of small tech startups and prevented what could have been a catastrophic blow to a sector that relied heavily on the lender.
When federal regulators stepped in to backstop all of Silicon Valley Bank’s deposits, they saved thousands of small tech startups and prevented what could have been a catastrophic blow to a sector that relied heavily on the lender.
When banks call to verify your details how do you know the call is legitimate?
(ycombinator.com)
I got a call from my bank claiming that they're discontinuing physical credit card statements and asking for my email to send statements via email. Then they proceeded to also ask for my date of birth and home address to "verify details" after making the unsolicited call. It felt off but the call came from within the bank.
I got a call from my bank claiming that they're discontinuing physical credit card statements and asking for my email to send statements via email. Then they proceeded to also ask for my date of birth and home address to "verify details" after making the unsolicited call. It felt off but the call came from within the bank.
Ask HN: Crappy website design seems more trustworthy?
(ycombinator.com)
I visited my bank's website and it hit me. For some reason, their crappy website design appears as more trustworthy than other, sleeker designs of modern banks. Why is that?
I visited my bank's website and it hit me. For some reason, their crappy website design appears as more trustworthy than other, sleeker designs of modern banks. Why is that?
North Korean hackers use newly discovered Linux malware to raid ATMs
(arstechnica.com)
In the beginning, North Korean hackers compromised the banking infrastructure running AIX, IBM’s proprietary version of Unix. Next, they hacked infrastructure running Windows. Now, the state-backed bank robbers have expanded their repertoire to include Linux.
In the beginning, North Korean hackers compromised the banking infrastructure running AIX, IBM’s proprietary version of Unix. Next, they hacked infrastructure running Windows. Now, the state-backed bank robbers have expanded their repertoire to include Linux.
'I lost £165k to fraud in an hour' – customers say they were let down by Revolut
(bbc.com)
A man who had £165,000 stolen from his Revolut business account by fraudsters has told BBC Panorama he believes the company’s security measures failed to prevent the theft.
A man who had £165,000 stolen from his Revolut business account by fraudsters has told BBC Panorama he believes the company’s security measures failed to prevent the theft.
How Should I Price a Python Module License for Major Banks?
(ycombinator.com)
I have an opportunity to license a Python module to several major banking institutions—some of the largest in the world. Typically, we offer this software as a web app, but these banks need a local module to run within their own environments.
I have an opportunity to license a Python module to several major banking institutions—some of the largest in the world. Typically, we offer this software as a web app, but these banks need a local module to run within their own environments.