BankNews April 2015

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Most Influential Women in Payments Honored by PaymentsSource

March 13 – PaymentsSource, providing news and analysis for payments professionals, has announced the honorees for the 2015 Most Influential Women in Payments. PaymentsSource will celebrate the accomplishments of these exceptional leaders on April 8th at an honoree panel discussion and reception, held during the 27th Annual Card Forum & Expo at the Chicago Marriott Downtown, hosted by PaymentsSource and American Banker.

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FirstMerit Mobile Banking Apps Now Offer Popmoney for Convenient Person-to-Person Payments

March 12 – FirstMerit Corp. has announced that its Apple iOS and Android Mobile Banking Apps now include Popmoney, a simple and secure service that allows customers to send and receive money electronically.  Sending and receiving personal payments through Popmoney reduces the hassle of writing checks and eliminates the need to carry cash. All it takes is an email address or mobile phone number of the person receiving funds to initiate a payment.

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Credit Reporting Agencies Agree to Reform Practices

March 9 – The nation’s three leading national credit reporting agencies have reached an agreement to improve credit report accuracy, increase the fairness and efficacy of the procedures for resolving consumer disputes of credit report errors, and protect consumers from unfair harm to their credit histories due to medical debt. The agreement was announced by New York Attorney General Eric Schneiderman. (more…)

OCC Hosts Risk Assessment and Compliance Risk Workshops in Syracuse

July 14 – The Office of the Comptroller of the Currency will host two workshops in Syracuse, N.Y., at the Sheraton Syracuse University Hotel, Aug. 5-6, for directors of national community banks and federal savings associations.

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Seventy Percent of U.S. Credit Cards to be EMV Enabled by the End of 2015

July 2 – By the end of 2015, 70% of U.S. credit cards and 41% of U.S. debit cards will be EMV enabled, says Aite Group.

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New Research Examines U.S. Path to EMV Integration

June 20 – By October 2015, 70 percent of U.S. credit cards and 41 percent of U.S. debit cards will be EMV enabled, says Aite Group. Aite Group’s new research report, EMV: Lessons Learned and the U.S. Outlook, takes a look at the migratory experiences of five countries that preceded the United States in adopting the EMV standard: the United Kingdom, Australia, Brazil, Mexico, and Canada. It also describes the U.S. path to EMV based on interviews with top U.S. issuers and payment networks and makes a series of recommendations for U.S. issuers based on the lessons learned from other countries.

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Agriculture Deputy Secretary Announces Members for Beginning Farmers and Ranchers Committee

Nov 22 – Agriculture Deputy Secretary Krysta Harden has announced the appointment of 20 members to serve on the Secretary’s Advisory Committee on Beginning Farmers and Ranchers during a trip to the University of Delaware. The committee will provide guidance to the Secretary on expanding opportunities that will help beginning farmers and ranchers succeed in agriculture.

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FirstMerit Corporation Launches Mobile Banking Products for Business Customers

Sept. 16 – FirstMerit Corp. has introduced mobile business banking for business customers through both downloadable mobile banking apps and Short Message Service (SMS) text banking features. Business owners and managers can now use their mobile devices to monitor and manage their business’ accounts anytime and anywhere they want. The free downloadable mobile application is available for iPhone, iPad, iPod Touch and Android devices.

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Amy Friend Named OCC Chief Counsel

Jan 15 – The Office of the Comptroller of the Currency has announced that Amy Friend has been named the agency’s chief counsel. Friend, a former assistant chief counsel at the OCC, has had a varied career in both the public and private sectors. Most significantly, she served as chief counsel to the Senate Banking Committee, where she played an integral role in the development of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

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OCC: Karen Solomon to Serve as Acting Chief Counsel

Dec 27 – Comptroller of the Currency Thomas J. Curry has announced that Karen Solomon would begin a three-month term as acting Chief Counsel on Jan. 1 while the agency continues its search for a successor to Julie Williams.

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