SAN FRANCISCO - (01/04/06) Visa USA has changed the lookof its signature logo for the first time in three decades. Startingthe new year, the updated brand mark now appears on all newmaterials, including Visa payment cards, merchant decals, marketingmaterials and stadium signage. There is also a new card redesignthat is being rolled out. Among the changes: the dove hologram willmove to the back of the card and be integrated into the magneticstripe, and the three-digit security code, known as the CVV2 code,will be printed on a separate panel next to the signature panel,making it easier for consumers and merchants to read. The cardassociation said that cardholders will also have more space on thefront of the card in order to customize it. Card changes will takeplace over the next three years to five years.
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The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.
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The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27