On November 8, 2007, Aite Group hosted a round-table discussion on mobile banking, which considered aspects of the service such as potential for acceptance and possible security threats. Held at Bayard's in lower Manhattan, the event, titled "Mobile Banking 2.0: Time for the Perfect Storm?" attracted an international audience of more than 80 guests interested in the direction mobile banking will take in the United States, having failed to catch on several years ago.

Dave Birch from Consult Hyperion interviews Jack Selby about the early days of PayPal where Jack was a senior vice president and his current involvement with FreedomPay. This is a GREAT interview - highly recommended.

The Economist looks at mobile banking in an opinion piece in its November 15, 2007 issue - mostly discussing the regulatory aspects of banking on a mobile phone. "The regulatory approach being taken in the Philippines provides a good model for other countries. Rather than trying to work out the best rules in advance, which could hamper innovation, the regulator is working closely with the banks and operators behind the country's two m-banking schemes."

Business Week's cover story by Michael Mandel this week is titled "The Consumer Crunch" and reviews the issues facing the economy as a result of tightened consumer credit. "What comes next could be scary—the largest pullback in consumer spending in decades, perhaps as much as $200 billion to $300 billion, or 2%-3% of personal income. Reduced access to credit will combine with falling real estate values to hit poor and rich alike."

Earlier this week, Discover Financial Services CEO David Nelms presented at the Merrill Lynch Banking & Financial Services Investor Conference. A replay and the presentation slides are available online.

In a report titled "Debit-Card Purchasers Penalized for PIN Use", Bob Sullivan writes for MSNBC.com about $0.25 fees being charged to some US Bank customers for using their debit cards with PINs instead of signature.

Mark Jewell reports for the AP that "half of more than 3,000 retail stores that a wireless security company secretly monitored at major shopping areas in the U.S. and Europe use wireless data systems vulnerable to hacking."

Reuters and others are reporting that First Data yesterday cut 1,700 jobs - representing about 6 percent of its workforce.

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