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Neil Burton - Earthport - London | 01/05/2013 | 1415 views

Amended Dodd Frank Section 1073 effective October 2013

Following industry consultation, the US CFPB (Consumer Financial Protection Bureau) has issued the awaited amendments to Dodd Frank Section 1073. The new 2013 Final Rule is effective from October 28, 2013. The three issues of greatest concern to US banks have been amended: It is optional, in certain circumstances, to disclose fees imposed by a ... Tags: Payments, Transaction bankingGroup: Payments strategies 2015-2020-2030

Neil Burton - Earthport - London | 26/03/2013 | 1496 views

UK gov imposes more competition on UK payments

On 20 March, the UK chancellor presented this year’s national budget. It announced a ‘Regulator for payment systems - The Government will bring the payment systems into a competition-focused regulatory regime. It will formally consult on this shortly after this Budget.’ Today, HMT has issued the consultation paper; it is accessib... Tags: Payments, Transaction bankingGroup: Payments strategies 2015-2020-2030

Neil Burton - Earthport - London | 12/12/2012 | 2358 views

South-south trade - the elephant herd in the room.

The Ancient Mayans predicted that the world will end on 21st December 2012. While some of us may laugh at those stocking up on the non-perishables or forgoing Christmas shopping, the Mayans – who considered themselves a developed economy – may have been on to something. While booming markets in Africa, India, Asia and South America deli... Tags: Payments, Transaction bankingGroup: Payments strategies 2015-2020-2030

Neil Burton - Earthport - London | 29/11/2012 | 2561 views

12 months to SEPA - no rush?

Last week, Deutsche Bank ran a SEPA outreach event, bringing the practicalities of migration to SEPA compliance to a large group of their current and prospective clients. The end date of course is February 2014. But with code freezes typical at year-end, for all intents and purposes SEPA compliance projects need to be complete a year from now. Fo... Tags: Payments, Transaction bankingGroup: Transaction Banking

Neil Burton - Earthport - London | 02/10/2012 | 1858 views

Do We Need A Global ACH?

Global ACH, or iACH as it is sometimes called, seems to be the buzzword of the moment. Is there is a good business case for a global ACH? Characteristics of an ACH Automated Clearing Houses are great at what they do, namely, domestic clearing, usually at exceptionally low cost, and with very high transparency and service levels. They are generall... Tags: Payments, Post-trade & opsGroup: Transaction Banking