Payments Exchange

New Transaction Liability Court rulings underscore the need for layered security systems By Cary Whaley How does the reversal by the U.S. Court of Appeal for the First Circuit of PATCO v. People’s United affect your community bank’s corporate online services? It signals a trend by several courts to rule against banks that fail to […]

Flee or Stay?

CFPB requirements spark reassessments of the viability of remittance-transfer services By Cary Whaley After more than two years of regulatory activity, punctuated by three sets of proposed and final rules, October is decision time for community banks. That is when the Regulation E Remittance Transfer Rule goes into effect. And that’s when banks that exceed […]

Mobile Wallet Countdown

This banking and payments platform’s time will arrive—sooner or later By Nicole Swann This leaves community bankers to ponder when they should join the pursuit of consumers’ virtual pocketbooks. Proponents insist, however, that mobile wallets are not just another technology looking for a home, and that community banks need to be in the game or […]

Of a Different Feather

Is Bluebird now a checking account in a prepaid card’s clothing? By Cary Whaley In the March issue of ICBA Independent Banker, when I wrote about my “test drive” of the Bluebird prepaid card, Wal-Mart’s retail payments venture with American Express, I portrayed an awkward, limited product. I outlined why the Bluebird card—which included the […]

The Time Is Now

Why saying ‘yes’ to same-day ACH settlement makes sense By Cary Whaley As I consider the Automated Clearing House (ACH) and the migration from next-day to same-day settlement, I am reminded of the biblically inspired lyrics from the 1960s song “Turn! Turn! Turn!” To everything … there is a season … and a time for […]