Google Now Offers Banking Accounts with Google Pay Update

The tech giant will let users open checking accounts, pay friends and manage budgets through a new version of its Google Pay app rolling out Wednesday.

Samsung Pay Will Launch Debit Card in Partnership with SoFi

Samsung Pay Will Launch Debit Card in Partnership with SoFi Samsung Pay was launched in 2015. Even today it remains one of the few options with built-in magnetic secure transmission technology (MST) along with NFC functionality, making it possible to pay practically anywhere you can swipe a card. Samsung Pay offers a rewards program, which…

Fifth Third Bank in Hot Water for Opening Fake Accounts and Transferring Customer Money without Consent

Fifth Third Bank Fake Accounts Lawsuit Fifth Third Bank employees allegedly opened fake accounts without customers’ consent, because they hoped to meet aggressive sales goals, according to a lawsuit filed by the Consumer Financial Protection Bureau on Monday. The federal regulator alleged that the bank knew its employees were opening fake accounts since at least 2008…

Regulators Looking into Betterment 2.69% APY Savings Accounts

I wrote a few days ago about a new savings account option from Betterment that offers 2.69% APY. That’s the best rate for a high yield savings account. But there’s some concern as Betterment, a digital wealth-management start-up, might have similar issues to Robinhood, when they first attempted to launch traditional bank accounts. Regulators have…