HOUSTON - (08/16/05) -- FSV Payment Systems said it hassigned with Meta Payment Systems to offer a turnkey gift cardprogram to financial institutions. The GiftIT program allowsfinancial institutions to sell loadable Visa and MasterCard brandeddebit cards to their customers for year-round gift-giving. MPS willprovide the implementation, which can be completed within twoweeks, and the core processing. FSV also markets its GiftIT throughFiserv, a separate company.
Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
Jack Dorsey's payments company also laid off employees early in 2025 and 2024 following a self-imposed employee cap of 12,000 in November 2023.
