Despite how bank earnings go, they still lag far behind on mobile pay


While newer real-time payment systems will help the flow of funds, there is still a large hurdle that prevents real access of faster payments and innovative financial services at the cheapest cost to consumers and businesses. This is the lack of direct access to the domestic payment rails for non-banks. Unlike other countries, non-banks are dependent on big banks to gain access to payment systems in the U.S.

Preventing direct access to the payment rails and forcing access via banks leads to lower competition and higher costs for U.S. consumers and businesses. Also, such a model adds more inherent risk to the…


Wells Fargo (WFC) earnings Q4 2019 disappoint

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