Mobile Banking

News & Analysis as of

Federal Reserve Bank of Boston’s Payment Strategies Team Provides Snapshot of Mobile Banking Landscape

On August 17, the Federal Reserve Bank of Boston published a report that outlines the results of a 2014 survey intended to capture “a point-in-time snapshot of mobile banking and payments at [financial institutions]” across...more

Avoiding ‘white noise’ in communications with consumers

The UK’s Financial Conduct Authority (‘FCA’) has published its report into the impact of various methods used by banks to help their customers manage their current accounts....more

NACHA White Paper Discusses Mobile Payments with ACH

On March 10, 2015, the Payments Innovation Alliance of NACHA—The Electronic Payments Association (“Alliance”) released a white paper, entitled “Leveraging the Mobile Channel for ACH Payment Innovation.” The white paper...more

Financial Services Report - Spring 2015

In This Issue: - Beltway Report - Bureau Report - Mobile & Emerging Payments Report - Mortgage & Fair Lending Report - Operations Report - Preemption Report - Privacy...more

FDIC Study: Branch Banking Still Prevalent Despite Increase in Online and Mobile Banking

On February 19, the FDIC released a study showing that brick-and-mortar banking offices continue to be the principal means through which banks deliver services to customers, despite increased growth in the use of online and...more

Financial Services Weekly News Roundup - February 2015 #4

FDIC Study Shows Branch Banking Has Staying Power: Has your smartphone displaced your bank? According to an FDIC study released on February 19, traditional brick-and-mortar offices are maintaining their primacy, despite...more

Financial Services Regulatory Bulletin - December 2014

In this issue: - CFPB Issues Final Rule on Regulation P: Annual Privacy Notices Can Be Delivered By Posting Online - ‘It Takes Hutzpah!’: D.C. Federal Judge Issues Stunning Rebuke of HUD Disparate Impact Rule...more

Banking & Financial Services E-Note - September 2014

In This Issue: - CFPB to Regulate Nonbank Institutions That Fund Auto Loans - DOJ Suggests Banks Turn In Employees to Avoid Criminal Charges - Regulators Requiring Banks to Carry Higher Capital...more

Mobile Check Deposits: With Soaring Use, Increasing Risks

Consider the following hypothetical scenario (and a typical scam involving mobile check deposits) in which an employer (the “Company”) issues a paper check to one of its employees (the “Employee”). The Employee remotely...more

Let’s Get Mobile: The CFPB Turns Focus to Mobile Banking

After completing most of its required rulemaking under the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) is now looking at a wide array of consumer financial products and services for additional regulation....more

CFPB Begins Collecting Input On Mobile Financial Services

On June 11, the CFPB released a request for information (RFI) about how consumers are using mobile financial services (MFS) to access products and services, manage finances, and achieve financial goals, with a focus on...more

CFPB Issues a Request for Information Related to Mobile Financial Services

Yesterday, the Consumer Financial Protection Bureau (“CFPB”) released a request for information (“RFI”) concerning the use of mobile financial services, specifically among unbanked and underbanked consumers. The RFI was...more

CFPB to seek information on mobile financial services

Today, the CFPB will publish in the Federal Register a “Request for Information Regarding the Use of Mobile Financial Services by Consumers and Its Potential for Improving the Financial Lives of Economically Vulnerable...more

CFPB Launches Inquiry Into Mobile Financial Services

The CFPB has launched an inquiry into the opportunities and challenges associated with the use of mobile financial services. As part of the inquiry, the Bureau is exploring how mobile technologies are impacting unbanked and...more

The Fed’s Report on Mobile Financial Services: Slow Growth in Mobile Payments

Earlier this year, the Board of Governors of the Federal Reserve System (“Board”) released a report on its third annual Survey of Consumers’ Use of Mobile Financial Services (the “2013 Survey”). The 2013 Survey are part of...more

FDIC Panel Considers Mobile Financial Services For Underbanked

How can financial institutions better serve underbanked individuals? - An advisory panel convened by the Federal Deposit Insurance Corporation (FDIC) met recently to discuss possible answers to this question....more

FDIC White Paper Assesses Use Of Mobile Financial Services To Reach Underserved

On April 24, the FDIC hosted a meeting of its Advisory Committee on Economic Conclusion, during which FDIC staff presented a white paper on the potential for mobile financial services (MFS) to reach unbanked and underbanked...more

The Financial Report - Volume 2, No. 22 • December 12, 2013 (Global)

OSC to hold derivatives reporting seminar. The Ontario Securities Commission announced that it will hold a seminar on January 15, 2014, on the reporting requirements under the new Derivatives Trade Repositories and...more

Mobile banking and the Federal Circuit's "divided infringement" decisions

The rapid growth of the mobile banking industry, the raft of litigation that has followed such growth, and why the Federal Circuit's much-anticipated "divided infringement" decisions in Akamai v. Limelight and McKesson v....more

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