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CFPB defanged?

first_imgWith Trump-appointed deregulators now in charge of the Consumer Financial Protection Bureau, the specter of new regulations governing overdraft practices and fees has been lifted, at least temporarily.CFPB is at a fork in the road and less likely to further restrict credit union overdraft programs, at least in the immediate future, observes Brian Witt, senior partner in the Farleigh Wada Witt law firm, Portland, Ore.“They’re likely to put a freeze on any new regulations for the next six to nine months, until they see what the new director’s priorities are,” he says. “That should bring credit unions and banks short-term relief from any potential new regulation.”The threat of heavy-handed overdraft regulation by CFPB was receding even before an anti-regulation acting director took over, he notes; CFPB’s own research study showed little need for more restrictions. continue reading » 17SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Banking brands can’t keep pace with digital giants without AI

first_imgEven though the acronym AI is now well-embedded in banking industry consciousness, actual use of artificial intelligence, and its cousins machine learning and data analytics, has been limited except with a handful of the largest financial institutions.According to an MIT Sloan report cited by IBM, 81% of all enterprises do not understand what data is required for AI, or how to access it. Still, the report found that 83% agree that driving AI across the enterprise is a strategic opportunity.Meanwhile the big tech firms, notably Amazon, Google and Facebook, have built big leads in this area, powering their ecommerce empires, which increasingly include financial services.There are options, however, to enable a wider range of financial institutions to take advantage of AI for use in marketing, personalization, user experience, payments, and more. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

How far out from the Brisbane CBD do you need to go to spend less than $500,000 on a house?

first_imgMore from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus18 hours agoOffers over $399,000 will help secure this home at 16 Elmes Rd, Rocklea. Picture: realestate.com.auCoreLogic analyst Cameron Kusher said most capital cities had experienced a significantdecline in suburbs with a median value below $500,000 in recent years.“Meaning that to access more affordable housing buyers have to move further away from the city centre,’’ he said. Rocklea is the closest suburb to the city in Brisbane with a median house value below $500,000. The median is $419,922.The other four cheap suburbs close to Brisbane were Hemmant, 10.3km, Archerfield, 10.4km, Pinkenba, 11.4km and Zillmere 12.1km. 16 Elmes Rd, Rocklea is listed for offers from $399,000. Picture: realestate.com.auWITH $500,000 to spend are you still able to find property close to the CBD?Well that depends on what capital city you live in – and if it’s in Brisbane you are in luck.New data from CoreLogic has revealed five suburbs with median house values of less than $500,000 within less than 12km of the Brisbane CBD.In Sydney you have to go almost 40km from the CBD to find something similar and in Melbourne the nearest suburb is 16km from the city. 12 Peplow St, Hemmant is listed for offers over $429,000. Picture: realestate.com.auCoreLogic figures reveal there were 37 house sales in Rocklea in the past year, that means half of those properties sold for below the media and half for above that price.last_img read more