FIS and Worldpay’s Merger – Why Its “Bank in a Box” Tech Fantasy Will Go Nowhere
FIS and Worldpay are merging, hyping that they’ll be a bank in a box. Clive looks under the hood and doen’t like what he sees.
Read more...Category Archives: Credit cards
Wolf Richter: The State of the American Debt Slaves, Q3 2018
Consumer debt continues to grind upwards.
Read more...Michael Hudson: 10 Years Since Lehman Brothers Bankruptcy – Did the Economy Really Recover?
Michael Hudson discusses the economic impact of not writing down debts in the wake of the crisis.
Read more...Don Quijones: Credit-Cardholders & Bank Customers Burned Again as New IT Chaos Breaks Out in the UK
Another IT outage in the UK serves as pushback to the war on cash, with even the ECB conceding it doesn’t foresee a totally cashless society, leaves those relying on credit cards alone to make payments vulnerable.
Read more...America’s Subprime Economy
This so-called expansion is more and more brought to you by subprime borrowings.
Read more...Don Quijones: Consumers Stubbornly Cling to Cash, after Multiple IT Fiascos & Payment Systems Outages
More consumer pushback in the war on cash: An industry dogged by non-believers who fret about privacy and fraud.
Read more...Wall Street Journal Hyping Amazon Banking: “Ridiculous, Ridiculous, Ridiculous”
The Wall Street Journal gets itself duped into publishing some particularly flaky, um, nebulous, um, aspirational Amazon banking ideas.
Read more...FinTech and Banks
Why FinTech will not be as disruptive as its promoters would have you believe.
Read more...PayPal Demonstrates What Happens to Former Tech Unicorns Which Get Lame
PayPal is no longer getting away with the sort of things it could as a payment processor newbie.
Read more...Amar Bhide: The Case for Traditional Banking
Amar Bhide gives a clearly-written, compelling argument against a supposed banking “innovation,” securitization.
Read more...Trump Gets Chance to Reshape CFPB
Trump will soon name a replacement for CFPB director Richard Cordray; rule-making and enforcement priorities will become more bank-friendly.
Read more...New EPA Lawsuit Policy Advances Trump’s Deregulatory Agenda
Trump deregulatory agenda advances, via agency decisions, and a new EPA lawsuit policy to stymie regulation by litigation.
Read more...RIP, CFPB Mandatory Arbitration Ban
Trump signs resolution overturning CFPB’s mandatory arbitration ban– thus killing the agency’s most pro-consumer initiative to date.
Read more...India’s Demonetization Experiment Fails to Demonetize: Cash Comes Full Circle
Cash withdrawals from Indian ATM machines are nearly back to the level of just before Modi’s demonetization shock.
Read more...Cybersecurity Ain’t the Only Game in Town: The Scams Multiply
Cybersecurity is much in today’s news, but it’s not the only source of scams– which are much more omnipresent than in the past.
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