DENVER—The Colorado House has approved legislation that would prohibit interchange fees from being charged on the sales-tax portion of card transactions, sending the measure to Gov. Jared Polis and setting up what could become another major legal and operational battle for financial institutions following the ongoing fight over Illinois’ Interchange Fee Prohibition Act.
MCLEAN, Va.--The 30-year fixed-rate mortgage averaged 6.37% this past week, Freddie Mac reported.
WASHINGTON--Aligning with February’s Exceptive Order, the Financial Crimes Enforcement Network on Wednesday reissued its frequently asked questions on its Customer Due Diligence requirements, America's Credit Unions noted.
BOSTON--As Massachusetts considers a special commission to prohibit credit card issuers from collecting interchange fees on the tax/gratuity portion of a transaction in the state, actions are underway to try and stop it.
NEW YORK— Citigroup has launched a new internal platform designed to deploy artificial intelligence agents across its operations, a move aimed at reducing manual work and accelerating decision-making, PYMNTS reported.
NEW YORK—Consumer fintech OnePay has launched a new credit-building product designed to give consumers a simpler entry point into establishing credit, with the company unveiling a Builder Card tied directly to its app and linked to a customer’s Cash account, according to PYMNTS.
MINNEAPOLIS, Minn.—The $4.8-billion Blaze Credit Union here has agreed to acquire the Claremont branch of Luminate Bank in a deal that will expand its footprint in southeast Minnesota and add roughly $25 million in deposits and about 550 customers.
JACKSON, Miss.—NCUA Wednesday placed $162-million Jackson Area FCU here into conservatorship.
COLUMBUS, Ohio—One of the legal architects behind most of the nation’s credit union-bank acquisitions is sharply criticizing the Ohio Bankers League’s attempt to block Interra Credit Union’s proposed purchase of The Hicksville Bank, arguing the opposition is rooted more in politics than law or logic.
FORT WAYNE, Ind.—Summit Choice Credit Union said it has partnered with InvestiFi to allow members to invest directly from their checking accounts through the credit union’s existing digital banking platform, as more credit unions look to keep investment relationships inside their own digital ecosystems instead of losing them to outside fintech platforms.
