Fiserv is marking its 20th anniversary with a program offers college scholarships to the children of its employees. Called the Fiserv Scholarship Program, the plan will award 20 scholarships a year based on a combination of academic performance, financial need, leadership, work experience, and career and educational goals. "We have worked hard since our founding in 1984 to continue the education of our employees-whether in our own classes or in university courses," said CEO Leslie M. Muma. Fiserv was formed in 1984 through the combination of Sunshine State Systems of Tampa, Florida, and First Data Processing of Milwaukee, with $21 million in revenue. Today it has $2.7 billion in revenue and more than 21,000 employees.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
September 17 -
St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
September 17 -
The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
September 17