SAN FRANCISCO—Wells Fargo has reined in the bonus offer for new cardholders on its Cash Wise Visa Card, which had been among the richest welcome offers on any no-annual-fee cash-back credit card.
Fresh Today
Fintech Offering Financial Services to Teens–With 500,000 on Waiting List–Raises Another $22 Million
SAN MATEO, Calif.–A start-up fintech seeking to become the first bank account and spending card for teenagers has now raised $22.5 million in funds, including from some well-known and celebrity investors.
WASHINGTON–With the National Defense Authorization Act (NDAA) now headed to a conference committee to iron out differences between the House and Senate versions, credit unions will be working behind the scenes this week to ensure language giving banks the same access as credit unions to military bases isn’t part of any compromise.
ALEXANDRIA, Va.—When the NCUA board meets on Thursday it is scheduled to issue two final rules: one on real estate appraisals for non-residential, rural loans, and another on fidelity bonds.
WASHINGTON–President Trump said he is no fan of cryptocurrenices, including Facebook’s newly announced Libra. The president made the statements as Congress was holding hearings around cryptocurrencies, while the White House also hosted a “social media summit” made up primarily of conservative voices. During the summit, Trump said, “We have terrible bias, we have censorship like nobody has any understanding or nobody can believe.”
MENLO PARK, Calif.—Facebook blockchain lead David Marcus told U.S. lawmakers that the social media giant plagued by privacy scandals won’t have access to personal financial information with its new cryptocurrency.
ALEXANDRIA, Va.—NAFCU is asking NCUA to provide “periodic updates and opportunities for credit union feedback and engagement," on the agency's implementation of ongoing examination modernization initiatives.
MEMPHIS–Ownership in the data processing CUSO Share One has changed, shifting from an employee and client ownership structure to a majority client-based credit union CUSO.
JACKSON, Mich.–American 1 Credit Union here has donated $600,000 to the Jackson YMCA as part of a new partnership.
PLANO, Texas–The newly hired executive director of the Faster Payments Council, Kim Ford, has been added as a featured panelist during a breakfast “listening” meeting during Catalyst Corporate’s 2019 Economic & Payments Forum in October.