Citizens’ $9 Million CFPB Penalty And Other Digital Transactions News briefs from 5/23/23

As part of a settlement with Citizens Bank, the Consumer Financial Protection Bureau is requiring the bank to pay a $9-million civil money penalty for its alleged failure to “properly manage and respond to customers’ credit card disputes and fraud claims.” The agreement is subject to approval by the court.
UATP, a U.S.-based payment platform specializing in travel, said Flocash has joined its network. Flocash specializes in travel payments in the Middle East and Africa.
Fifth Third Bancorp said it has acquired Rize Money, a provider of technology for embedded payments. Terms were not disclosed.
Visa Inc. said it will open a global technology and product hub in Poland, its first such initiative in Central and Eastern Europe and the fifth such hub worldwide.
Mastercard Inc. announced it is working with HealthLock, a technology company supporting privacy in healthcare, to extend HealthLock’s services to millions of health-savings accounts and flexible spending accounts linked to Mastercard cards.
Presto Automation Inc., a developer of automation technology for restaurant drive-throughs, said it has negotiated a private investment in public equity (PIPE) facility of approximately $10 million, which is expected to close Wednesday.

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