Financial Institutions

Fiserv, Inc. recently released the results of a survey suggesting banks are taking a “wait and see” approach to mobile payments. Fiserv commissioned and Forrester Consulting conducted the survey of 15 large U.S. banks, which found that most of the banks offered mobile banking services allowing customers to make transfers between accounts, find an ATM

The deadline to submit comments in response to the Consumer Financial Protection Bureau (CFPB) Implementation Team’s notice to establish the “Consumer Inquiry and Complaint Database” is less than two weeks away. 

Title X of the Dodd-Frank Act establishes the CFPB to enforce federal consumer financial laws through rulemaking, supervision, and enforcement authority.  Dodd-Frank grants the

According to a Federal Deposit Insurance Corporation survey of depository institutions, approximately 38 percent of institutions offer some form of remote deposit capture (RDC) service.  RDC enables a customer to deposit checks and other items electronically through the internet or the customer’s mobile phone.  The service was first authorized in 2004 when Congress passed the

We recently covered the Red Flag Program Clarification Act of 2010 in a blog post and client alert.  The Act was intended to narrow the scope of the Federal Trade Commission’s Red Flags rule, which imposes requirements on creditors and financial institutions to detect and deter identity theft.  Prior to the Act’s passage, the

Over the weekend, President Obama signed into law the “Red Flag Program Clarification Act of 2010.”  The Act is intended to narrow the types of entities that are subject to the Federal Trade Commission’s Red Flags rule, which requires financial institutions and creditors to take certain steps to prevent identity theft.  More information on the

Last week, Congress delivered to President Obama for his signature the “Red Flag Program Clarification Act of 2010,” which is intended to narrow the types of entities that are subject to the Federal Trade Commission’s Red Flags rule.  The Red Flags rule requires “financial institutions” and “creditors” to establish programs to detect, prevent, and mitigate