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Three members of Congress said Thursday (July 3) that they sent a letter to each of the banks that own the Zelle peer-to-peer (P2P) payment platform, asking what those banks are doing to combat social media scams.
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The letters were prompted by a proliferation of these scams and by the decision of one of the banks, J.P. Morgan Chase, to block Zelle payments that originate...
OpenAI unveiled a way for retailers to create artificial intelligence (AI) shopping assistants in Shopify, according to a post on X.
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With a few clicks, developers can now connect the Storefront Managed Compute Platform (MCP) server directly to the OpenAI Responses API to build agents that can search for products, add items to a cart, and generate checkout links — all...
The Federal Deposit Insurance Corp. (FDIC) processed a surge in consumer complaints in 2024, with credit cards being the most frequently cited product and credit reporting disputes being the most common issue.
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The agency’s National Center for Consumer and Depositor Assistance, Consumer Response Unit (CRU), registered 26,451 written complaints and telephone inquiries...
In May 1999, a group of entrepreneurs launched an online B2B website called Alibaba.com, which operated out of a small apartment in Hangzhou, China. Its goal was to connect Chinese manufacturers and trading companies with overseas buyers.
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Over the decades, Alibaba would branch out into other businesses to become the largest eCommerce company in China and one of the...
A boom in the use of dollar-backed stablecoins could destabilize the global payment system, Amundi Asset Management Group Chief Investment Officer Vincent Mortier told Reuters in a report posted Thursday (July 3).
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While Mortier said he had not fully made up his mind about stablecoins, he said they could cause a major shift in money flows, weaken the U.S. dollar by...
The Consumer Financial Protection Bureau (CFPB) reports that the ranks of the “credit invisibles” in the U.S. have thinned.
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But there are still 25 million unscored individuals.
As reported by the agency, 2.7% of the adult population are considered credit invisible, reflecting an update to data and the methodologies employed by the CFPB. A decade ago, the CFPB said that...
The battle between Amazon and Walmart is hardly recognizable today relative to 10 years ago.
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As artificial intelligence (AI) and automation become the invisible infrastructure underpinning global commerce, the Amazon-Walmart rivalry, long emblematic of the old guard versus the new, is turning into a real-time case study in retail’s transformation. It’s no longer just...
Google has reportedly proposed changes to its search results ahead of a possible antitrust fine.
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That’s according to a report Wednesday (July 2) by Reuters, citing an internal company document. It comes one week before a crucial meeting that could bring additional fines from European regulators to the tech giant.
Google in March was accused by the European Union of...
When Navan, a business travel and expense management company, set out to build its artificial intelligence-powered virtual travel agent called Ava, it faced the challenge of making sure the system didn’t hallucinate.
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In corporate settings, even one AI-generated error — like offering a refund that violates fare rules or showing the wrong flight details — could lead to...
Robotics startup Genesis AI emerged from stealth with $105 million in seed funding.
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Genesis AI aims to create a general-purpose artificial intelligence model that will allow robots to automate a range of repetitive tasks, TechCrunch reported Tuesday (July 1). The company’s funding round was co-led by Eclipse and Khosla Ventures.
While large language models are trained...