Meta Fraud Pressure Grows as Payments Association Calls for Shared Liability
The Payments Association released a white paper warning that authorized push payment (APP) fraud now largely originates on digital platforms such as Meta’s Facebook, Instagram and WhatsApp. It cites that roughly two‑thirds of APP fraud cases in early 2025 began upstream, yet banks bear the reimbursement cost under current UK rules. The trade body urges regulators to impose shared liability on platforms, including mandatory advertiser verification and real‑time intelligence sharing. The proposal marks a shift from post‑transaction compensation toward preventing scams at their source.
Nexi and PayPal Widen European Alliance in Push to Simplify Digital Commerce
Nexi and PayPal have expanded their partnership beyond Italy, embedding PayPal’s ecosystem directly into Nexi’s merchant platform across Europe. The rollout will initially cover Italy, the Nordics and Poland, giving merchants a single point of connection for digital payments and...
China Pushes CIPS to Compete with Western Payment Networks
China is accelerating reforms to its Cross‑Border Interbank Payment System (CIPS) to position it as a viable alternative to Western‑dominated payment networks. The first major rule change since 2018 expands CIPS beyond renminbi‑only clearing, adding multicurrency settlement and broader foreign‑payment...
ADG 3/31: Interval Training
U.S. banks are tightening credit for private‑credit vehicles as borrowing costs for business development companies have risen to roughly 2% above the Secured Overnight Financing Rate, squeezing fund managers' interest income. At the same time, redemption pressure on non‑public BDCs...
Fidelity BancShares Acquires Affinity Bancshares for $142.8 Million in a Cash Deal
Fidelity BancShares announced a cash acquisition of Georgia‑based Affinity Bancshares for $142.8 million, paying $23 per share—a 17.35% premium to the prior close. Affinity contributes roughly $882 million in assets and a portfolio focused on commercial real‑estate, construction, and small‑business lending. The...
Home Equity Loan vs HEI: A Complete Comparison
Home equity investments (HEIs) and traditional home equity loans offer two distinct ways for homeowners to tap their property’s equity. An HEI provides a lump‑sum payment in exchange for a share of future home appreciation and carries no monthly payments,...
Rwandan Banks Deliver Debt Financing for Paradigm Tower Takeover
Rwandan banks have closed a landmark debt financing deal, dubbed Project Zorro, to fund the acquisition of IHS Rwanda, now Ishara Towers Rwanda, by Paradigm Tower. The consortium, led by Bank of Kigali and joined by Development Bank of Rwanda,...
TED Talk
The article revisits the TED spread— the gap between LIBOR and U.S. Treasury bills—as a historic gauge of inter‑bank trust that foreshadowed the 2007 financial crisis. It argues that today’s equivalent warning signal is the crack spread, particularly the jet‑fuel...
No-Doc HELOC and Home Equity Loans | 2026 Requirements
No‑doc HELOCs and home‑equity loans let borrowers bypass traditional tax‑return and pay‑stub verification by using bank statements, asset documentation, or cash‑flow analysis. Lenders still enforce Ability‑to‑Repay rules, requiring credit scores of 680‑720, a minimum of 20‑30% equity, and typically cap...
Sullivan & Cromwell Discusses FDIC Rescission of Policy Statement Limiting Participation of Private Investors in Failed-Bank Acquisitions
On March 19, the FDIC rescinded its 2009 Statement of Policy that limited private‑equity participation in failed‑bank acquisitions, aiming to broaden the pool of bidders and reduce resolution costs. The move follows a pilot program that pre‑qualifies nonbanks for asset...
Piper Sandler Launches Coverage on Dime Community Bancshares (DCOM) with Bullish View
On March 16, Piper Sandler initiated coverage of Dime Community Bancshares (DCOM) with an Overweight rating and raised its price target to $37, up from $36. The brokerage cites a recovering net interest margin and anticipates significant loan repricing in...
How To Get A Home Equity Loan | Process 2026
A home equity loan lets homeowners borrow against the equity built in their property, typically up to 80% of the home’s appraised value after subtracting the existing mortgage balance. The application mirrors a primary mortgage—lenders evaluate credit scores, debt‑to‑income ratios,...
![[Payments Arriving] Evolve Bank & Trust Data Breach + $20 Settlement](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2024/07/evolve-data-breach.png)
[Payments Arriving] Evolve Bank & Trust Data Breach + $20 Settlement
Evolve Bank & Trust disclosed a ransomware breach in May 2024 attributed to the LockBit criminal group. An employee’s click on a malicious link allowed attackers to download customer data and encrypt files, though backups limited operational loss and no...
RTGS CHAPS Industry Forum
The Bank of England has opened nominations for a new RTGS CHAPS Industry Forum, seeking about 15 senior external members from banks, fintechs, large corporates and other stakeholders. The advisory body will help shape the design, development and operation of...
American Express To Remove $100 Saks Benefit On Platinum Card
American Express announced that the $100 annual Shop Saks credit on the U.S. Consumer Platinum Card will be discontinued for all members starting July 1, 2026. Existing cardholders can still receive up to $50 in Saks statement credits through June...
(Ending Soon) Capital One Venture: 75,000 Points + $250 Travel Credit
Capital One has re‑launched its Venture card promotion, offering a $250 travel credit for the first year and a 75,000‑point bonus after spending $4,000 within the first three months. The card carries a $95 annual fee that is not waived,...
HELOC for Kitchen Remodel: Pros, Cons, and How It Works
Homeowners can finance kitchen remodels with a home equity line of credit (HELOC), a revolving credit secured by their property that allows borrowing as needed during a 3‑10‑year draw period. Because interest accrues only on funds drawn, borrowers often pay...
My Key Takeaways From MPE 2026 in Berlin.
The 2026 Money Payments Europe (MPE) conference convened in Berlin, spotlighting AI, cross‑border payments, stablecoins, and the emerging digital euro. Panels explored agentic commerce, pragmatic innovation in payment stacks, and the next generation of tokenization aimed at eliminating PANs by...
Davis Polk Discusses Federal Banking Agency Guidance on Capital Treatment of Tokenized Securities
The Office of the Comptroller of the Currency, the Federal Reserve Board and the FDIC issued FAQs clarifying that tokenized securities receive the same capital treatment as their traditional counterparts only when they confer identical legal rights. The guidance defines...
![[Targeted] Signup for Venmo Credit Card & Get Triple Rewards (9% Back On Top Category)](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2019/10/venmo.png)
[Targeted] Signup for Venmo Credit Card & Get Triple Rewards (9% Back On Top Category)
Venmo is re‑launching a targeted credit‑card promotion that delivers triple‑cash‑back for six months—9% on the top spend category, 6% on the second, and 3% on all other purchases. The offer carries no annual fee, no sign‑up bonus, and imposes no...
Chasing Ultimate Rewards Redemption Back to This Entry Level
Chase customers can again cash out Ultimate Rewards points at one cent per point after a six‑year hiatus. The author, Benjy Harmon, describes his shift from high‑value Pay Yourself Back redemptions back to plain cash following recent policy changes that...
![[CA only] SAFE Credit Union $300 Checking Bonus (Can Now Churn)](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2025/06/safe-cu-600-1.png)
[CA only] SAFE Credit Union $300 Checking Bonus (Can Now Churn)
SAFE Credit Union in California has relaunched its checking‑account promotion, offering a $300 bonus that can double to $600 if additional criteria are met. The offer runs through May 31 2026 and requires a minimum $1,000 in direct deposits each month for...
U.S. Financial Regulatory Week Ahead
The week of March 30‑April 1 will be unusually quiet in Washington as Congress and most regulators pause for Easter and Passover, but key events include a moderated discussion with Fed Chair Jay Powell at Harvard and Fed Vice Chair Michelle Bowman...
![[Expired – Class Action Settlement] [Targeted, CA only] Patelco Credit Union $300 Checking Bonus](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2025/01/patelco-400.png)
[Expired – Class Action Settlement] [Targeted, CA only] Patelco Credit Union $300 Checking Bonus
Patelco Credit Union is offering a $400 new‑account bonus, split into $300 for opening a free or interest checking account, $50 for adding a Money Market account, and $50 for enrolling in the RoundUp savings feature. To earn the $300...
U.S. Bank Business Altitude Connect Offer Increased to $750 Back
U.S. Bank has raised the Business Altitude Connect card’s welcome bonus to 75,000 points, redeemable for a $750 deposit after $6,000 of spend within 180 days. The card carries a $0 introductory annual fee, rising to $95 after the first...
Mortgage Rates Inch Up to Another Long-Term High
U.S. mortgage rates edged higher on March 27, reaching a 30‑year fixed rate of 6.64%, the highest level in eight months. Lenders initially posted a top‑tier rate near 6.7% before trimming it mid‑day as bond market movements softened. The adjustment...
Surveys Sent Out About Possible Citi Strata Premier Revamp
Citigroup appears to be testing two revamped versions of its Strata Premier card, each carrying a $195 annual fee. Both proposals retain a 4× points boost on dining during Citi Nights and include a suite of statement credits, such as...
Earn Up to $825 Bonus Today with New SoFi Checking and Savings Account
SoFi is rolling out a new checking and savings account promotion that can net new customers up to $825 in cash and points. The core offer provides a $400 bonus for deposits of $5,000 or more within a 30‑day evaluation...
![[Live 3/31] SoFi Plus Now Costs $10/Month (Removes Free Option) + 4.5% Savings Rate](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2019/02/sofi.png)
[Live 3/31] SoFi Plus Now Costs $10/Month (Removes Free Option) + 4.5% Savings Rate
SoFi is ending the free SoFi Plus subscription, charging every member $10 per month starting April 1, 2026. The plan now includes a 4.5% APY on balances up to $20,000, a modest bump from the 4.25% baseline. However, the extra...
Truist $400 Checking Bonus [AL, AR, GA, FL, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA,...
Truist is running a $400 cash bonus for new personal checking accounts across 18 states, valid through July 9 2026. To qualify, applicants must use promo code DC400TR1Q226, receive a single direct deposit of at least $2,000 within 90 days, and complete 20...
Mastercard Explores Sale of Nets Real-Time Payments Business
Mastercard has engaged investment bankers to explore selling the real‑time payments business it bought from Denmark’s Nets in 2019 for $3.2 billion. The unit, which produces roughly $370 million in revenue and $100 million EBITDA, is expected to fetch a price below its...
![[Targeted] AmEx Offer: Use Apple Pay Three Times & Receive $10 Statement Credit](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2018/06/amex-offers.png)
[Targeted] AmEx Offer: Use Apple Pay Three Times & Receive $10 Statement Credit
American Express has re‑issued a targeted offer that grants a one‑time $10 statement credit once cardholders complete three purchases using Apple Pay on an eligible mobile device. The promotion, which cycles periodically, is currently active through May 21, 2026 for qualifying AmEx cards....
March Global Regulatory Brief: Risk, Capital and Financial Stability
Recent financial stress has spurred a wave of regulatory initiatives worldwide. In the United States, the Treasury signaled a possible reset of bank liquidity rules, including a review of the Liquidity Coverage Ratio and discount‑window caps. China’s CSRC introduced a...
Thunes Links Stablecoin Payouts to the Swift Banking Network
Thunes announced that its stablecoin payout service will operate over the SWIFT interbank messaging network. The solution enables banks linked to SWIFT to send near‑instant payments to more than 500 million stablecoin wallets in over 140 countries, currently supporting USDC and...
Globacom's MoneyMaster PSB Tweaks Banking App, Gifts Customers Data and Airtime
Globacom’s MoneyMaster Payment Service Bank (MMPSB) has rolled out a refreshed mobile banking app that features a cleaner visual design and streamlined menus for account and denomination selection. The update introduces logical tabs—hot, daily, weekly, monthly, exclusive and special—to organize...
The 'Blame Game' In Private Credit Begins
The U.S. Securities and Exchange Commission has opened a formal inquiry into Egan‑Jones, a niche credit‑rating firm that underpins much of the private‑credit market, questioning whether its ratings are produced with integrity. At the same time, a wave of redemption...
TrueLayer Hires Satispay and Klarna Veteran as Head of Ecommerce to Scale Pay by Bank in Europe
TrueLayer has appointed Stefano De Lollis, a veteran who grew Satispay’s ecommerce arm and held senior roles at Klarna’s Sofort Banking, as Head of Ecommerce. The move comes as TrueLayer’s transaction volumes are nearly doubling year‑over‑year. Its Pay by Bank...
Canadian Regulator Secretly Threatens Banks Over Risky Mortgages Ahead of 2027
Canada’s banking regulator OSFI has moved from informal concerns to formal legal warnings that major banks may be breaching the Bank Act by using stale, blanket appraisals for pre‑construction mortgages. The watchdog cites rising default risk as new‑home prices are...
Singapore’s Central Bank Pilots XRP Ledger for Cross-Border Trade
Singapore’s Monetary Authority has invited Ripple to join its Borderless, Liquid, Open, Online, Multicurrency initiative, using the XRP Ledger and Ripple’s USD‑linked stablecoin (RLUSD) to settle cross‑border trade. The pilot automates payment release the moment a shipment is verified, eliminating...
Earn $150 with New Varo Money Account, Plus $150 for Referrals
Varo Bank is offering a $150 cash bonus to new customers who receive at least $500 in qualifying direct deposits within 45 days, with the promotion running through March 31, 2026. The bonus is deposited into the account within 4‑7 business days...
Easing Capital, Reviving Risk: The Quiet Return of Too Big to Fail
The U.S. regulator’s latest proposal to ease capital adequacy rules for the nation’s largest banks marks a reversal of post‑2008 reforms aimed at curbing systemic risk. Critics argue the move weakens loss‑absorbing buffers, reviving the “too‑big‑to‑fail” dynamic that forces taxpayers...
![[YMMV] Chase Business Checking: Pay 5 Bills Online & Earn $250](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://www.doctorofcredit.com/wp-content/uploads/2025/08/chase123.webp)
[YMMV] Chase Business Checking: Pay 5 Bills Online & Earn $250
Chase is offering existing business checking customers a $250 cash bonus for completing five online bill‑pay transactions within 90 days of enrollment. Participants must enter a 16‑character coupon code in the online banking portal to verify redemption. The promotion is...
Earn $500 Bonus with New Relay Financial Account
Relay Financial, a fintech platform backed by Thread Bank, is launching a $500 cash bonus for new business checking customers. To qualify, users must deposit $10,000 within the first 30 days and maintain that balance for 90 days. The reward...
Credit Card Application Rules By Bank – A Complete Guide
The guide outlines each major U.S. issuer’s credit‑card application limits, timing rules, and welcome‑offer eligibility. American Express caps five cards with a two‑approval‑per‑90‑days rule, while Chase enforces the notorious 5/24 rule that excludes business cards. Bank of America, Capital One, Barclays, and others impose...
Maximising Collections to Deliver Business Value: A Modern Direct Debit Imperative
Mark Bish’s blog highlights Pay.UK’s Direct Debit rule 5.8, which now lets businesses challenge indemnity claims under reason code 4, curbing fraudulent disputes. The update tightens onboarding standards, demanding stronger validation and verification to avoid sanctions. He also stresses that automation,...
Z1
Z1 is a Brazilian fintech neobank built for teenagers and young adults across Latin America. It delivers a digital banking platform that includes prepaid debit cards, peer‑to‑peer transfers, and integrated financial‑education tools. By focusing on early financial habits, Z1 aims...
Meet Qivalis: The Bank-Led Effort to Internationalise the Euro with Stablecoins
European banks have formed a consortium called Qivalis to issue a euro‑denominated stablecoin, marking the first large‑scale, bank‑led effort to internationalise the euro in digital form. The project receives backing from the European Central Bank’s regulatory sandbox, signaling official support...
Port of Rotterdam Ensured Loan for Shore Power Infrastructure
European Investment Bank approved a €90 million ($98 million) loan to the Port of Rotterdam Authority to fund shore‑power installations at three deep‑sea container terminals. The loan is complemented by a €70 million ($76 million) European Commission grant, bringing total public financing to roughly...
Late Payment Reform Toughest in over 25 Years, Government Says
Britain's government has introduced the toughest late‑payment reforms in the G7, tightening rules for large firms dealing with small suppliers. A new 60‑day payment cap and a statutory interest rate of 8 % above the Bank of England base rate will...