Sean Murray

FedNow? The who and the what now? You may have heard of this (nearly) instant payment system going into effect - but how does it work, when does it work, and do FFCCU members benefit from it? We dig in to all your #FedNow questions in this recent blog post: https://hubs.li/Q02zSXcf0 #FFCCU #creditunion #savingsaccount #checkingaccount #instantpayments #creditunions #CUdifference #ILoveMyCreditUnion

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The ability to send instant payments to suppliers is just one of the many ways your business could benefit from the FedNow® Service. Discover more use cases: https://lnkd.in/dAWQcx82 #FedNow #instantpayments #payments #banking #FederalReserve

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This FedNow Readiness Checklist highlights the four key decisions your financial institution should make before onboarding. Watch now: https://lnkd.in/dcg9dJAC #FedNow #instantpayments #payments #FederalReserve #banking

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Next week is Notificaiton Week! That’s what I call the week of the 10th since that is generally around the time that merchants get notified that they are being put in to a Monitoring Program for Chargebacks or Fraud. So a question we always get many times next week is … What do I do if I get a Month 1 notification and/or my processor is asking me for a remediation plan? #FraudDeflect #VDMP #Chargebacks #Disputes

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Navigate the complexities of the FedNow® Service with ease. This blog answers commonly asked questions—ideal for community banks seeking to enhance their payments experience. #FedNowService #communitybanks #payments

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Consumer Financial Protection Bureau Takes Action to Ensure Consumers Can Dispute Charges and Obtain Refunds on Buy Now, Pay Later Loans “When consumers check out and choose Buy Now, Pay Later, they don’t know if they will get a refund if they return their product or whether the lender will help them if they didn’t get what was promised,” said CFPB Director Rohit Chopra, CFA. “Regardless of whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations already on the books.” https://lnkd.in/eMdDH3Re #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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The CDEZ has taken a significant step toward strengthening the U.S. banking ecosystem with the Zone Authority's approval of its Banking Regulation. Explore our website's Banking Regulation explanatory section to understand how the advantages it provides for bank charters. https://buff.ly/3OS549Q

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To the likely surprise of providers of buy now, pay later (BNPL) financing, the #CFPB recently issued an interpretative rule stating that BNPL products are actually "credit cards" under the Truth in Lending Act and BNPL providers are "card issuers" and therefore "creditors" under, and subject to, Regulation Z. Scott Pearson, Bryan Schneider and Eric Knight explain the significance here:

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Revolutionize your borrowing process with FUNDINGO's consumer lending software! This innovative tool streamlines the lending experience, ensuring quick and seamless loan applications and decisions. It enhances fraud prevention, and customer service by automating crucial steps in the lending journey. Ideal for businesses aiming to improve efficiency and customer satisfaction, FUNDINGO's solutions are at the cutting edge of lending technology. https://lnkd.in/giEFRmXe #ConsumerLending #FinancialTechnology #LoanSoftware #DigitalTransformation #CustomerExperience

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Small Business Lending Is Crucial in Fighting the Deposit Wars This Gonzo Banker article talks about how banks must develop a strategic approach to capture the small business lending market. By targeting underserved niches, employing dedicated teams, and leveraging automation, banks can streamline processes and reduce costs. The key is integrating technology and data-driven strategies to identify and prequalify potential borrowers. Discover in this article how to seize this market advantage. #SmallBusinessLoans #SmallBusinessLending #BankingStrategy https://lnkd.in/gytvkp78

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Exploring the realm of ACH payments is like peering into the intricate gears of modern finance—a complex system meticulously designed for efficiency and security. Discover how ACH payments streamline transactions, reduce costs, and enhance security in the digital age. Unravel the intricacies of ACH payments in this informative deep dive. #Finance #ACHPayments #DigitalPayments #Efficiency #Security https://lnkd.in/dfENqjVa

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FI Connect is dedicated to keeping credit unions top of mind in today’s consumer lending marketplace. 🔗: https://lnkd.in/eb3ECUXW  By being present in top of funnel finance channels offered by OEMs, dealers, and online marketplaces where financing is available, FI Connect is blazing a trail for credit unions to capture the next generation of borrowers. #borrowers #lending #lendingopportunities #creditunion

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🔒 Protecting Your Finances: How to Safeguard Your Bank Account from ACH Fraud 🔐 As more transactions become automated, the risk of ACH fraud looms large. 🛡️ It's time to take a serious look at safeguarding your hard-earned funds. Be sure to enable multi-factor authorization for logging into all financial accounts and preventing unauthorized access. 🌟 🔒

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Buy Now, Pay Later is a flexible payment plan that allows OCFCU members to pay off large debit card purchases over time! But the benefits don’t stop there: 👏 BNPL doesn’t require a credit check and is a quick to approve 👏 You can avoid interest charges by making payments on time 👏 Manage BNPL purchases easily with Online Banking 👉 Learn about BNPL: https://loom.ly/BylPQFs - #OCFCU #credituniondifference #BNPL #bettermoneyhabits

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