New date guidelines issued by CFPB for final Prepaid Rule

The Consumer Financial Protection Bureau has released additional information on effective dates and required disclosures for the prepaid card rule that generally becomes effective on Oct. 1, 2017. The CFPB has now released a new Fact Sheet that highlights effective date guidelines  under the final Prepaid Card rule including, for example, how to handle providing disclosure and […]

Mastercard introduces artificial intelligence across its global network

Mastercard just introduced Decision Intelligence, a comprehensive decision and fraud detection service. The solution uses artificial intelligence technology to help financial institutions increase the accuracy of real-time approvals of genuine transactions and reduce false declines. This is the first use of AI being implemented on a global scale directly on the Mastercard network. Current decision-scoring […]

Registration is now open for state advocacy, formerly GAC, conferences

Registration for the state advocacy conferences, formerly known as the State GACs, is now open. The Alabama Advocacy Conference will be held in Montgomery, March 21-22, 2017, and you can register here. The Florida Advocacy Conference  will be held in Tallahassee, March 28-29, 2017, and you can register here. Attendees at each conference can expect to hear […]

Florida credit union seeks to purchase Mackinac Savings Bank

IBM Southeast Employee Credit Union, headquartered in Delray Beach, FL, filed an application with the Federal Deposit Insurance Corp. to acquire Mackinac Savings Bank of Boynton Beach, FL, pending factors that include regulatory approval. According to the South Florida Business Journal, “South Florida is one of the state’s most attractive banking markets in part because of […]

NCUA changes Call Report deadlines giving CUs more time

Beginning with the Dec. 31, 2016, reporting cycle, federally insured, natural-person credit unions will have until the final Sunday of the month following the end of the quarter to file Call Reports, the National Credit Union Administration announced last week. Credit unions will now have, on average, an additional seven days to file Call Reports. […]

Texas judge grants emergency injunction against Labor Department overtime rule

A federal judge in Texas granted a preliminary injunction yesterday delaying implementation of a regulation that would extend overtime eligibility to an estimated 4.2 million workers. The injunction by Judge Amos Mazzant, an Obama appointee to the Eastern District of Texas in Sherman, TX, is temporary, but indicates he will eventually side with 21 state […]