Monday, February 10, 2025

Olivia Hendrix

OBA, ABA to host webinar on credit card program

Community banks understand the importance of having a payments relationship with their customers, but many banks do not have the staff, resources or appetite for risk to profitably manage a credit card portfolio.  Recognizing the challenges community banks face in issuing and managing credit cards, the OBA and ABA have endorsed the agent credit card program of ServisFirst Bank. By …

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Trump names chairs, acting heads of several agencies, departments

Immediately upon assuming office last Monday, President Trump designated several chairs and acting heads of agencies and departments. Among agencies relevant to financial services, Trump designated the following: David Lebryk, fiscal assistant secretary of the treasury and the highest career official at the Treasury Department, as acting secretary pending the confirmation of nominee Scott Bessent. FDIC Vice Chairman Travis Hill …

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Unauthorized tap-to-pay fraud increasing

According to frankonfraud.com, there is a rise in donation “Tap to Pay” fraud where consumers are approached in a parking lot (Target, WalMart, etc.) by individuals (scammers) requesting a small donation to help with <insert any sob story>. The victims believe they are donating $10 or $20, but the scammer is manipulating the transaction and billing them for thousands. Technically, …

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