MIAMISBURG, Ohio--River Valley Credit Union here has chosen Velera to provide debit and credit card processing support.
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SAN FRANCISCO— Visa is rolling out a new slate of dispute-resolution tools as card disputes continue to climb, underscoring how chargebacks and so-called “friendly fraud” are becoming a bigger cost and customer-service problem for merchants and financial institutions alike.
WASHINGTON--Credit unions lending through the Small Business Administration’s (SBA) International Trade Loan (ITL) program will feel more secure in deploying capital to support small manufacturers, America's Credit Unions noted.
GLASSPORT, Pa.—NCUA said it has liquidated Copper & Glass FCU here, with OMEGA Federal Credit Union in Wexford, Pa., immediately assuming the failed institution’s assets, member shares and loans.
PHOENIX— Legislation in Arizona that would impose new restrictions on financial services for immigrants in the country illegally advanced this week in the state House, with Senate Bill 1421 receiving a “do pass” recommendation from the House Commerce Committee on March 24, according to legislative records reported by the California Globe.
SAN DIEGO—House Financial Services Committee Chairman French Hill (R-AR) told bankers at CBA LIVE that House Republicans are preparing a broader push this year to reshape the Consumer Financial Protection Bureau, previewing a “series of reforms” aimed at the Bureau itself and at two of the industry’s most contested rules: the CFPB’s Section 1071 small-business lending data collection rule and its Section 1033 open-banking data-access framework.
NEW YORK— Bank of America has agreed to pay $72.5 million to settle a proposed class action brought by women who accused the bank of helping facilitate Jeffrey Epstein’s sex trafficking operation, according to court papers filed Friday in federal court in Manhattan.
CHEYENNE, Wyo.— Wyoming has enacted a new law regulating virtual currency kiosks, with Gov. Mark Gordon signing House Bill 75 on March 6, according to ATM Marketplace.
MIAMI--With U.S. household debt now standing at roughly $18.8 trillion, personal finance company WalletHub said a new analysis shows some of the nation’s largest cities are facing especially acute debt-payment stress, with delinquency levels that could heighten risks to consumers’ credit scores and broader financial stability.
WASHINGTON— The U.S. Department of the Treasury has issued its first proposed rule under the GENIUS Act, seeking public comment on how it should determine whether state-level stablecoin regulatory regimes are “substantially similar” to the new federal framework for payment stablecoin issuers.