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MasterCard to acquire rewards, loyalty services provider Pinpoint

MasterCard announced on Thursday plans to acquire Pinpoint, a loyalty and rewards service provider in the Asia Pacific region, before the end of the second quarter. “Becoming a part of the MasterCard family is an exciting step for our entire team as we look to build on our core business and grow our customer relationships across the... Read More...

BAFT ramps up fight against financial crime with new working group

International financial services association BAFT announced a new working group aimed at increasing anti-money laundering efforts and helping the banking industry meet know-your-customer regulatory expectations. The Anti-Money Laundering and Know Your Customer Trade Finance Sound Practices working group will review “red flags” identified by... Read More...

MasterCard nominates two individuals for board director positions

MasterCard’s board of directors recently nominated two individuals for election as independent directors—if elected, Julius Genachowski and Merit Janow will increase the number of board members to 13. “The world continues to get smaller and technology opens new doors every day,” MasterCard Board Chairman Richard Haythornthwaite said.... Read More...

NCUA: Credit unions can provide alternative to costly payday loans

Representatives from the NCUA’s Office of Small Credit Union Initiatives and Office of Examination and Insurance told credit unions on Wednesday that the institutions can provide a viable alternative to predatory payday loans. NCUA representatives told credit unions during Wednesday’s webinar that payday loans can provide credit unions with... Read More...

Report: 18 percent of Americans report personal data breaches

Data recently released by the Pew Research Center showed more Americans have experienced personal data breaches, with the number rising from 11 percent in July 2013 to 18 percent in January. According to the survey, 21 percent of adults on the internet have experienced a security breach in email or social networking accounts—the number was... Read More...

Worldpay expands sales reach in China with addition of Shanghai office

Worldpay recently opened its first sales office in China in Shanghai as part of an effort to service Chinese businesses that are increasingly global. The office will be led by Tang Kok San, Worldpay’s vice president of business development in China, and will offer all of the company’s customer-facing functions. “The Chinese e-commerce... Read More...

OCC’s Curry warns of third-party security risks for financial institutions

Comptroller of the Currency Thomas Curry spoke on Wednesday on the growing threat of cyberattacks and concerns regarding financial institutions’ reliance on third parties to secure their own systems. “The fact is, we live in a world where consumers use their cellphones to deposit checks, pay bills over the internet and make purchases at... Read More...

Wells Fargo launches Get College Ready site for students, families

Wells Fargo launched the Get College Ready website last week, allowing parents and students to calculate and prepare for college costs. The online platform provides information on comparing education award letters, understanding various financing options and options available to cover non-tuition expenses like rent, books, campus events and... Read More...

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