NEW YORK — Three-quarters of U.S. banks and credit unions are evaluating or planning to evaluate new receivables and payment processing technology within the next 18 months, signaling a major modernization cycle driven by commercial client demands, operational efficiency, and revenue growth, according to new research released by CheckAlt.
LOS ANGELES—CashCall’s long-running fight with the CFPB over a $157-million judgment has now pulled Merchants Bank of Indiana into court, with the bank asking a California federal judge to decide what it should do with more than $144 million in collateral tied to the case, Law360 reported.
WASHINGTON— The Federal Reserve has proposed changes to its anti-money laundering (AML) requirements that would shift banks toward a more risk-based approach, directing compliance resources toward higher-risk customers and activities while easing the emphasis on technical program deficiencies.
WASHINGTON— The CFPB is preparing to reopen its examination of credit card late fees, signaling the agency is considering new regulatory action on a consumer affordability issue that has remained unresolved since a court blocked the Biden Administration's effort to cap most late fees at $8.
WASHINGTON--The Defense Credit Union Council wrote to NCUA expressing support for the agency’s interim final rule clarifying federal credit union authority to assess and receive non-interest charges and fees associated with payment card operations, including interchange fees.
ALEXANDRIA, Va. ― NCUA Wednesday announced that $13 million is available for loans to low-income-designated credit unions under the Community Development Revolving Loan Fund (CDRLF).
NEW YORK— Some of the nation's largest banks are exploring a deal to acquire a debit card payments network from Fiserv in a move that could allow them to sidestep federal limits on debit interchange fees, potentially reopening one of the payments industry's longest-running battles over swipe fees, according to reporting by Reuters and The Wall Street Journal.
WASHINGTON — Mortgage applications decreased 2.2% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 3.
MILWAUKEE—Fiserv President Dhivya Suryadevara has resigned, effective July 7, citing "good reason" under the terms of her employment agreement following the company's recent leadership changes, according to a filing with the Securities and Exchange Commission, PYMNTS reported.
WASHINGTON--America's Credit Unions is encouraging credit unions to submit their comments in support of NCUA’s interim final rule confirming federal preemption of the Illinois Interchange Fee Prohibition Act (IFPA) by the Thursday deadline.
