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LAKE FOREST, Ill.—Ally Bank’s big announcement it will end overdraft charges is not as big as it seems—and the digital bank’s decision could have an impact on the overall OD market if a number of financial institutions react, two analysts are cautioning.

WASHINGTON–One person believes the federal government’s student loan program is facing a $500-billion hole due to overly optimistic projections for repayments.

NAPLES, Fla.—ACI Worldwide said it is collaborating with JPMorgan Chase in a bid to enable merchants in certain European countries to deliver in-store payment acceptance capabilities to their customers, the company announced.

NEW YORK—Following in the footsteps of Amazon’s contactless stores, American Express has now opened up its own check-out free store in the Barclay Center arena in Brooklyn.

WASHINGTON—The Consumer Financial Protection Bureau has issued sets of frequently asked questions on Electronic Fund Transfer Act and Regulation E requirements, as well as servicing escrow accounts under Regulation X.