WELLINGTON, New Zealand—New Zealand is set to introduce open banking within the next two years. The objective is similar to that recently announced by the CFPB, as CUToday.info reported here.
Fresh Today
BASINGSTOKE, U.K.—A new study from Juniper Research has found global business spend on AI-enabled financial fraud detection and prevention strategy platforms will exceed $10 billion globally in 2027, up from just over $6.5 billion in 2022.
LONDON—Wise Platform is reporting it has launched a new service with global HR and payroll company Deel that the company said enables customers to send funds via Deel using just an email address.
SAN FRANCISCO—Visa has named current president Ryan McInerney as its new CEO.
SCOTTSDALE, Ariz.–The seven banks that own the payments network Zelle are preparing a major rule change early next year that will require financial institutions that participate in the network to compensate customers who fall victim to certain kinds of scams, two people familiar with the plans told the New York Times.
WASHINGTON–There may be some good economic news in U.S. Treasurys and the inverted yield curve.
ARLINGTON, Va.—New home sales increased 7.5% in October to 632,000 annualized units, while sales in September were revised down 15,000 units. Compared to last year, October sales were down 5.8%, according to new data.
NEW YORK—More Americans are considering applying for store credit cards to try and offset the financial strain during the upcoming holiday shopping season, according to a new report.
LONDON–Just adding to the competition credit unions face, more than 40 new challenger banks emerged in the last year globally despite an economic slowdown, according to a new analysis.
RICHMOND, Va.– Rep. A. Donald McEachin (D-VA.) has died, just weeks after winning reelection to Congress, with the trade groups issuing statements saying he had been a strong credit union supporter.