Fiserv said its electronic funds transfer unit will change the way policies are set for its Accel-Exchange PIN-based point-of-sale and ATM networks with the advise of a 16-member, financial institution-run Network Advisory Council. The council will include 15 financial-institution members and a single Fiserv executive. The new council will help set pricing, rules and variance decisions. But it is unclear whether the council will have the power to set interchange rates and switch fees. The council was formed in response to trends in recent years in which the stakes in most major EFT networks have been sold by banks to shareholder-owned corporations. Accel is currently branded on 1.6 million POS devices and the Exchange network is on 53,000 ATMs.
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McCargo will succeed Teresa Bryce Bazemore at what the former sees as a "transitional, pivotal moment" for the Federal Home Loan bank.
58m ago -
Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.
11h ago -
OakNorth Bank in London is eager to utilize the data it's collected from providing risk management software to American banks over the past five years. Its growth plans include eventually acquiring a charter here and making commercial real estate loans.
May 7 -
An independent examination of the Federal Deposit Insurance Corp. workplace culture revealed an atmosphere of sexual harassment, discrimination and misconduct at the agency and raised the need for significant reforms.
May 7 -
Cybersecurity leaders for Visa, Deluxe and Fiserv said powerful cloud players have been unresponsive to their requests to monitor the vendors' security postures.
May 7 -
The full House is scheduled to vote Wednesday on a Congressional Review Act resolution that would overturn a staff accounting bulletin from the Securities and Exchange Commission. Banks argue that the guidance would effectively cut them out of the crypto custody business.
May 7