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February 17, 2011

U.S. Congress Hearings on Dodd-Frank Act and Durbin Amendment

Congress logo 140pxThe U.S. House Committee on Financial Services Hearing on the "Implications and Consequences of the Durbin Amendment" was held today. The House website has a video webcast of the hearing and the written testimony of all the different stakeholders. The U.S. Senate Banking Committee is also holding a hearing on the Dodd-Frank Act today.

Various outlets have different takes on how the proposed Federal Reserve rules are being received in the industry:

The Federal Reserve is currently working to finalizes the Durbin Amendment rules under an April 21 deadline set in last years Dodd-Frank Act.

ClairMail Launches Mobile Fraud Management Solution

Clairmail logo 140pxClairMail has announced a new mobile fraud management solution for banks and their customers to oversee and quickly respond to fraudulent transactions directly through the mobile channel.
ClairMail's Fraud Solution works with existing FI fraud systems and processes to help mitigate card, Direct Deposit Account (DDA), online banking and identity fraud by leveraging all the capabilities of the ubiquitous mobile device and the robust alerting and orchestration capabilities of the ClairMail platform.
This video nicely illustrates how the whole thing works.

BB&T Introduces New Prepaid MoneyAccount

Bb t logo 140pxBB&T has announced the launch of the BB&T MoneyAccount, which is a prepaid transaction account tied to a Visa-branded debit card.
"Nearly 60 million Americans do not have a bank account today or they are underbanked," noted Scott Qualls. "The BB&T MoneyAccount is a prepaid solution that provides our clients with a secure and easy way to access their funds. It also features a simple, transparent fee structure."
The BB&T MoneyAccount has FDIC insurance and offers many of the features typically associated with a traditional checking account.

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