CHARLOTTE, N.C.–Eight-in-10 Americans say they support a recent proposal by two members of Congress to cap interest rates on credit cards. But that support drops when then asked about what might happen if a cap were put in place.
Fresh Today
SAN FRANCISCO—Tally has launched an automated savings app that lets users earn rewards points for saving, as opposed to incentivizing spending like most rewards systems do.
WASHINGTON—Colleges and universities continue to add banking functions, such as those of a debit or credit card, to student identification cards and charging students fees and interest for the use, a new report reveals.
MADISON, Wis.–The Worldwide Foundation, the international development and charitable arm of World Council of Credit Unions (WOCCU), is offering a reminder of an opportunity for credit unions to offer their members a credit card that funds financial inclusion programs in developing nations with every item they purchase.
WASHINGTON—Last week, the Acting Director of IRS of Field Operations for the LB&I Foreign Payments Practice announced the IRS will launch a compliance campaign this summer focused on foreign financial institutions (FFIs) that are not satisfying their reporting obligations under the Foreign Account Tax Compliance Act (FATCA).
NEW YORK—JPMorgan Chase has launched a platform to digitize and automate cross-border payments in China, while separately it has been hit with a fine by Ireland’s regulator.
NEW YORK- The attorneys general from 24 states and the District of Columbia have sent a joint letter to the Consumer Financial Protection Bureau urging it to not roll back its decade-old rules that limits the ability of banks to charge overdraft fees when customers spend more than they have in their accounts.
WASHINGTON—Comments are due this month on proposals from several federal agencies that will have an effect on credit unions, including risk-based capital, same-day automated clearing house (ACH) changes and more.
WASHINGTON—The House Financial Services Committee’s Task Force on Financial Technology recently held its first-ever hearing on the fintech industry.
WASHINGTON–NAFCU President Dan Berger is among eight new members who have joined the U.S. Chamber of Commerce’s Association Committee of 100 (C100).