Browsing: Payments

Compliance and Risk

Customers deserve the same level of protection whether they do business with nonbank payment startups or banks, ABA President and CEO Frank Keating said in an American Banker op-ed today. Keating was responding to arguments by former Treasury Secretary Larry Summers that nonbanks are at a regulatory disadvantage. “Banks provide extensive protections to consumers on


Balances held in Google Wallet — the mobile payment service offered by the California tech giant — will now be protected by federal deposit insurance, according to press reports this week.

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