The Week in Review

The Week in Review

Friday April 27, 2018 –

Here are the new and noteworthy stories we have been following this week.

Zelle, the Banks’ Answer to Venmo, Proves Vulnerable to Fraud

Zelle is popular and growing – but faces security and risk issues.

Visa Inc. Reports Fiscal Second Quarter 2018 Results

Visa reported net operating revenue of $5.1 billion for Q2 and 29.3 billion in processed transactions.

PayPal Reports First Quarter 2018 Results

PayPal reported Q1 revenue of $3.69 billion and 2.2 billion payment transactions.

Your local post office could become a bank if this bill passes

A bill put forth by Sen. Kirsten Gillibrand, D-N.Y., aims to make loans more affordable by offering retail banking services at the U.S. Postal Service.

Otting Previews OCC Actions on CRA, BSA, Small-Dollar Loans

The OCC’s top policy priorities are changing regulations on the Community Reinvestment Act, the Bank Secrecy Act and small-dollar lending, Comptroller of the Currency Joseph Otting said today at the American Bankers Association’s Government Relations Summit.

Otting Previews OCC Actions on CRA, BSA, Small-Dollar Loans

Discover Financial Services Reports First Quarter Net Income of $666 Million or $1.82 Per Diluted Share

Discover reported net income of $666 million for Q1 – credit card loans were up 10% to $65.6 billion.

Digital-Banking Startup Revolut Is Worth $1.7 Billion With New Funding

Revolut raises $250 million in Series C funding at a valuation of $1.7 billion.

Brazil’s Central Bank authorizes peer-to-peer lending

Brazil’s Central Bank on Thursday released rules for credit start-ups that include authorization for peer-to-peer lending.

Why Amazon and Google Haven’t Attacked Banks

Banks are rapidly emerging as big potential customers for the cloud computing businesses of Amazon, Alphabet, and Microsoft.

PayPal joins $44 million investment in card-linked cashback startup Dosh

Dosh raises $44 million in a Series A round.

Deutsche Bank likely to axe 1,000 U.S. investment bank jobs: source

Deutsche scaling back global investment banking.

Mexican Banks Targeted in Cyber Attack

Three banks experienced “incidents” in recent days when operating the SPEI, Mexico’s interbank electronic transfer system.

Pimco-Backed Online Loan Platform GreenSky Files for U.S. IPO

GreenSky files for an IPO.