Category Archives: Credit cards

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.

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.

FinTech and Banks

Why FinTech will not be as disruptive as its promoters would have you believe.

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.

Amar Bhide: The Case for Traditional Banking

Amar Bhide gives a clearly-written, compelling argument against a supposed banking “innovation,” securitization.

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.

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.

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.

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.

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.

Bill Black: Massachusetts First to Sue Equifax Over Massive Hack

Several government agencies and at least 34 state attorneys general have opened probes into the Equifax data-breach scandal–‘the gift that keeps on giving,’ says Bill Black.

Wolf Richter: Worst US Consumer Data Hack Ever? Equifax Confesses

What you can do to safeguard your identity in the wake of the Equifax data breach– the worst ever.

Payday Lending and the CFPB: Another Pending Cordray Fail

CFPB director Richard Corday’s failure to push for a payday lending rule earlier means we’ll see no rule, for the indefinite future.

House Votes to Overturn CFPB Mandatory Arbitration Ban

House takes first step to kill mandatory arbitration ban; Senate and Trump will follow. Why did the CFPB wait so long to act on this issue?

Don Quijones: People Not Amused by EU Efforts to “De-Cash” their Lives

EU survey results show respondents overwhelmingly oppose proposals to impose an EU-wide cash ceiling that would throttle use of cash.