Visa USA reported that purchases (sales volume) in the U.S. with Visa-branded credit, debit, prepaid, and commercial cards rose hit a record $302.2 billion during the second quarter of this year, up 17.5% over the same period in 2004. Visa reported that for the past four quarters ending June 30, sales volume increased 18.2% to $1.13 trillion. By payment method, versus the same period in 2004, there was 8.6% growth in credit, and 18.2% growth in offline debit to $101.6 billion.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said Thursday morning that the central bank recently finalized a new organizational structure for its supervision and regulation division.
1h ago -
The largest U.S. bank by assets named two co-presidents as part of its latest executive management changes. Marianne Lake, who was widely viewed as a contender to succeed CEO Jamie Dimon, will retire from the company.
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The Bureau of Economic Analysis' personal consumption expenditures inflation report for May showed that inflation had risen 4.1%, meeting elevated expectations and casting further doubt on the prospects of near-term interest rate cuts from the Federal Reserve.
3h ago -
The company, formerly known as LendingClub, moved from NYSE to Nasdaq as it officially launched its new name as a full-fledged digital bank.
6h ago -
Critics of the OCC's broad preemption stance say the OCC is resurrecting an approach Congress curtailed after the financial crisis, setting up another Supreme Court test over the balance between federal banking powers and state consumer protections.
6h ago -
There's broad support for the effort to reduce costs and processes, but the Appraisal Institute warns about reducing property valuation quality control checks.
June 24










