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RICHMOND, Va.—Capital One N.A. has asked a Virginia federal judge to dismiss a proposed class action accusing the bank of improperly wiping out billions of dollars in earned credit card rewards after closing customers’ accounts, arguing its agreements expressly informed cardholders that it could close accounts at any time, Law360 reported.

MCLEAN, Va.—The average rate on a 30-year fixed mortgage edged higher this week to 6.55%, up from 6.49% a week earlier, while remaining below the 6.75% level recorded a year ago, Freddie Mac reported Thursday.

WASHINGTON— The CFPB's decision to reopen its review of credit card late fees may ultimately produce a new rule, but industry attorneys say any attempt to revive the Biden Administration's controversial $8 cap is unlikely to survive either politically or legally.

SYDNEY, Australia—World Council of Credit Unions President and CEO Paul Treinen opened Monday's general session at the 2026 World Credit Union Conference by urging credit unions to prepare for a rapidly changing financial landscape shaped by geopolitical uncertainty, technological disruption and rising member expectations.

SAN RAMON, Calif.—Lumin Digital said it has raised more than $115 million in new capital to accelerate product development and expand its cloud-based digital banking platform, including more than $70 million from client investors and an additional $45 million in growth equity led by Light Street Capital. The latest financing values the company at approximately $1.6 billion.

FARMINGTON, Mich.— Members of Advantage One Credit Union have overwhelmingly approved the institution's merger with Farmington-based LOC Credit Union, paving the way for the combined organization to become the 36th-largest credit union in Michigan with nearly $750 million in assets and more than 45,000 member accounts, the organizations announced.

SAN FRANCISCO— Block Inc., the parent company of Cash App, has agreed to pay $45 million to settle a multistate investigation alleging it misled consumers about the app's fraud protections and failed to adequately safeguard users from scams, with 46 states requiring the fintech company to strengthen customer support and security practices, Reuters reported.