WASHINGTON–The Federal Trade Commission has ordered an end to what it called “illegal business tactics” by Mastercard, saying the company has been forcing merchants to route debit card payments through its payment network. The FTC is requiring Mastercard to stop blocking the use of competing debit payment networks.
Fresh Today
PLANO, Texas—Household wealth declined to $135.3 trillion as of Sept. 30 from $135.8 trillion at the end Q2, the third consecutive quarter household wealth has declined, a new analysis shows.
TROY, Mich.— Small business owners who’ve spent several months battling inflation are bracing for an even bumpier road ahead, according to the J.D. Power 2022 U.S. Small Business Credit Card Satisfaction Study.
SIOUX FALLS, S.D.–Two South Dakota credit unions have announced merger plans.
ALEXANDRIA, Va.– With the effective date for CECL compliance approaching for most credit unions, the Simplified CECL Tool for credit unions has been updated for December 2022.
NEW YORK—As the holiday season nears its end, consumers are showing signs that inflation is having a big effect on their household balance sheets, a new report shows.
ALBANY, N.Y.– Broadview FCU said it is donating more than $500,000 to fight hunger and food insecurity throughout the Capital Region, Binghamton, Syracuse, and Buffalo.
SALT LAKE CITY–Mountain America Credit Union has selected the “Instant Home Equity” solution from Blend, saying the goal is to provide members access to a fully digital end-to-end home equity product while also “dramatically” reducing loan application approval times.
MANCHESTER, N.H.— The long-time leader of America’s oldest credit union will be retiring at the end of this year, with a new CEO then taking over. Ronald H. Covey Jr. will retire after 14 years as president and CEO of St. Mary’s Bank, the eighth person to fill that post in the credit union’s 114-year history.
EVANSVILLE, Ind.–Another analysis has found credit unions looking to play a role in educating their members about finances will want to stick with the basics.