1+ day, 14+ hour ago  (554+ words) The Office of the Comptroller of the Currency this week sent a draft rule to the Office of Management and Budget that would preempt an Illinois state law banning the collection of interchange fees on taxes and tips. A notice…...

1+ mon, 3+ week ago  (568+ words) In the latest battle over an Illinois law that bans certain "swipe" fees, lenders have appealed a court ruling that largely left the law standing. That law, the Illinois Interchange Fee Prohibition Act, prohibits interchange fees on the tax or…...

2+ mon, 1+ week ago  (887+ words) "This is a close case," Kendall wrote. "That is true in part because the law it addresses is novel. The Parties have indicated that no other State has an equivalent to the [Interchange Fee Prohibition Act,] and thus no precedent…...

1+ mon, 31+ min ago  (550+ words) There's good news and bad news for banks in buy-now-pay-later lending. The good news is that banks offering the service are getting high marks from customers; the bad news is that many still don't have a BNPL offering, and those…...

5+ mon, 4+ day ago  (852+ words) Debit card rewards programs are back, and likely here to stay." Airlines and hotel chains are taking advantage of the banking-as-a-service model and the pass small banks get on interchange fee caps to revitalize debit card rewards programs." United Airlines…...

6+ mon, 2+ week ago  (841+ words) Biometric payment cards are experiencing tepid growth in the U. S. , but there's hope that high-end consumers, businesses and other potential users could warm up to the idea. Payment cards with fingerprint sensors are more popular in Europe, for instance, because of…...

7+ mon, 1+ week ago  (762+ words) The price controls were intended to harm politically unsympathetic large banks and the leading debit networks Visa and Mastercard. The Fed's rule implementing them would have reduced that harm by setting the debit interchange price cap higher than the law…...

9+ mon, 1+ week ago  (802+ words) Days after Live Oak Bancshares warned some customers that they would be unable to use their debit cards for up to nine days, the company said Thursday that there will be no disruption in access. A spokesperson for the Wilmington,…...

10+ mon, 2+ week ago  (932+ words) Managing money is a skill that everyone needs to learn. As parents look for ways to teach their kids financial literacy, one digital bank is building a type of kid's banking account with the whole family in mind. Nubank, a…...

11+ mon, 1+ week ago  (894+ words) John Reosti is a reporter covering community banks in particular and the financial services industry in general. He also focuses on the Small Business Administration, the National Credit Union Administration Board and issues connected to the CECL accounting standard. For…...