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CFPB Orders Citibank to Pay $700 Million in Consumer Relief for Illegal Credit Card Practices

The Consumer Financial Protection Bureau (CFPB) has ordered Citibank, N.A. and its subsidiaries to provide an estimated $700 million in relief to eligible consumers harmed by illegal practices related to credit card add-on products and services. Roughly 7 million consumer accounts were affected by Citibank’s deceptive marketing, billing, and administration of debt protection and credit monitoring add-on products. A Citibank subsidiary also deceptively charged expedited payment fees to nearly 1.8 million consumer accounts during collection calls.

Wednesday, July 22, 2015 - 10:23
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FinTech start-up Money Mover raises £1m to tap $5.6 trillion SME international money transfer market

 Money Mover, the online business currency exchange and international payments service dedicated to SMEs, today announced that it has raised £1m from a group of financiers, entrepreneurs and technologists, including Andy Homer and Sir Peter Michael. Money Mover aims to make international money transfer an asset rather than an inhibitor for SME growth by empowering businesses to make international money transfers quickly, at significantly reduced costs and with complete exchange rate transparency.

Wednesday, July 22, 2015 - 10:17
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XIII. "Do You Hear the People Sing?"

A Tale of Two Cities                                                                                                                                               

The most used line in speeches is from "A Tale of Two Cities:: "It was the Spring of Hope and the Winter of  our discontent."

Music is distinct from noise. Eloquence is distinct from data. Just as data requires intelligence, instinct and imagination to become information, so does any form of human endeavor, including music, speech, economics.

Wednesday, July 22, 2015 - 10:03
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XII. "Fire and Rain"

Part I: The Chinese R4I or Resources for Infrastructure Investment Model

 

Wednesday, July 22, 2015 - 09:46
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DTCC appoints Stephen Scharf as Chief Security Officer

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced the appointment of Stephen Scharf to the newly-created position of Chief Security Officer (CSO). The appointment will centralize and align the firm’s global information security, physical security, employee safety, and crisis/incident management functions, ensuring a comprehensive and holistic approach to risk management and resilience across the organization.

Tuesday, July 21, 2015 - 15:12
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OpenLink Provides Javelin Global Commodities with Leading Trading and Risk Management Platform

OpenLink, the global leader in trading and risk management solutions to the energy, commodities, corporate, and financial services industries, today announces its selection by new international commodities marketing and trading enterprise - Javelin Global Commodities (Javelin), as their trading and risk management system, supporting the enterprise’s drive for growth in financial and physical trading.

Tuesday, July 21, 2015 - 14:06
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Numerex IoT Platform Enables Safety Solutions for School Districts Nationwide

 Numerex Corp (NASDAQ:NMRX), a leading provider of interactive machine-to-machine (M2M) solutions enabling the Internet of Things (IoT), today announced that RTC Manufacturing, a leading provider of school zone safety equipment, has collaborated with Numerex to provide remote connectivity to school-zone warning flashers for enhanced student safety.

Tuesday, July 21, 2015 - 13:36
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Forex Capital Markets Meets Compliance for Customer Data Security with Netwrix Auditor

Netwrix Auditor has been chosen by FXCM Inc. (NYSE:FXCM) to help improve security of critical business assets and data, and to simplify the process of passing compliance audits.

Tuesday, July 21, 2015 - 13:14
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XI. "Fire"

The U.S. Model: Shock, Awe and Technology 

 

The world loves American culture. Castro's favorite liquor is Maker's Mark. One of Vladimir Putin's favorite songs is "Blueberry Hill." He has sung it with a piano solo. 

 

In the global stream of consciousness, there was a time when the U.S. was perceived as being well-meaning. Shock, Awe and technology changed all that. My Lai and Abu Ghraib carved a representation of the U.S. into the consciousness of the world. 

 

Tuesday, July 21, 2015 - 12:38
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X. "River of Dreams"

Tomorrow, and tomorrow, and tomorrow,

Creeps in this petty pace from day to day

To the last syllable of recorded time,

And all our yesterdays have lighted fools

The way to dusty death. Out, out, brief candle!

Life’s but a walking shadow, a poor player

That struts and frets his hour upon the stage

Tuesday, July 21, 2015 - 12:35
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