NEW DELHI, India—India has lifted restrictions on Mastercard after the payments giant demonstrated “satisfactory compliance” with the South Asian market’s local data storage rules, Tech Crunch reported.
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BASINGSTOKE, U.K.– A new study is predicting cumulative merchant losses from online payment fraud globally between 2023 and 2027 will exceed $343 billion.
MENLO PARK, Calif.—Meta, the parent to Facebook, has launched a new digital wallet that will it said is designed to support the economy of users in the upcoming iteration of Meta’s metaverse.
DES MOINES, Iowa–Affinity Credit Union has filed a proposed class action lawsuit against Apple alleging the company is illegally profiting from Apple Pay by limiting users’ ability to use similar tap-to-pay options.
RANCHO CUCAMONGA, Calf. – Saying it is a reflection of the broader slowdown in consumer spending nationally, Amazon Prime Day stimulated only a small uptick in spending on credit union-issued cards for online purchases over the two-day shopping holiday, according to Co-op Solutions.
ARLINGTON, Va.—Existing home sales fell at an accelerated rate of 5.4% in June to a seasonally-adjusted annualized rate of 5.12 million units, a 14.2% decrease in sales compared to last year.
WASHINGTON—Following recent media reports that the CFPB is considering issuing additional guidance to expand Regulation E in the wake of scams, six senators have sent a letter to Director Rohit Chopra calling for action and suggesting financial institutions bear more responsibility.
WASHINGTON—Amid record inflation and higher interest rates, expectations for full-year 2022 and 2023 real GDP growth were downgraded in July due to softening consumer spending and a downward revision to business inventory investment data, according to the July 2022 commentary published by the Fannie Mae Economic and Strategic Research (ESR) Group.
WASHINGTON—The House Energy and Commerce Committee has passed the Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2021 (H.R. 3962).
WASHINGTON—FHFA Director Sandra Thompson has offered some direction around the agency’s posture regarding pilot programs and the purchase of more noncomforming loans from CDFIs.