MCLEAN, Va.—Capital One will begin testing a buy now, pay later product this year as competition for consumer loans builds from financial technology firms providing merchants with easy ways to offer cheap financing for purchases.
Fresh Today
ATLANTA—A debt collection company and its owners will be permanently banned from the debt collection industry under the terms of a settlement with the Federal Trade Commission.
NEW YORK—American Express customers are sticking with its Platinum card even after the company decided to ratchet up the annual fee.
WASHINGTON—The Expanding Financial Access for Underserved Communities Act would ensure small businesses would be able to access the capital they need, CUNA wrote to the House Small Business Committee.
GENEVA, Switzerland–Four-in-five bankers (81%) believe financial institutions will seek to differentiate themselves on consumer experience rather than on their products and services in the next four years.
WASHINGTON—The lingering effect of the COVID-19 pandemic on local economies has created a new concern for community banks: historic levels of deposits and narrow net interest margins, according to the Conference of State Bank Supervisors’ (CSBS) eighth annual national community bank survey.
CINCINNATI—Which vehicle names would also make the best names for a football team?
WARREN, Ark.–After 49 years in credit unions, Dwayne Ashcraft, president/CEO of Arkansas Superior FCU, said he will retire at the end of January 2022. A successor has been named.
ALEXANDRIA, Va.–The National Credit Union Administration issued two prohibition orders and two notices of prohibition in September.
LIBERTY LAKE, Wash.–CU*Northwest, a CUSO that provides technology solutions, has named Larry Hayes as its new president/CEO, effective Oct. 18, 2021. Hayes is currently the president of eCU Technology.