Senate Bill 331-a bill to allow Oregon's CUs to accept deposits from a variety of public entities-has been signed by Gov. Ted Kulongosk. The bill had the support of the Credit Union Association of Oregon, which had to fight off attempts by Oregon's bankers to have the legislation attached to a separate bill imposing a corporate excise tax on state-chartered CUs with more than $100 million in assets. After strong lobbying by Cus, the excise tax bill died in committee.
MagicCube’s i-Accept is a hardware-free option for accepting card and electronic payments that could appeal to cost-conscious small businesses and open up a new market for banks that provide them payments services.
Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.
Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.
In an exclusive interview announcing the regulator's new financial inclusion program, NCUA Chairman Rodney Hood explains why the time was right to double down on the agency's efforts to expand access for marginalized communities.