Portland Local No 8 Credit Union

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Politics and policy

The Fed's manipulation of debit card interchange fees must stop

The Federal Reserve's new proposal to lower the cap on debit card fees will drive up the prices consumers pay for other services, while forcing some banks out of the market entirely.

By Bryan Bashur

1h ago
Community banking

Insurance deal too rich for Trustmark to pass up, CEO says

The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.

By John Reosti

April 24
Consumer lending

Synchrony hikes interest rates on credit cards to offset late-fee rule

The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.

By Polo Rocha

April 24