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Fannie Mae and Freddie Mac have been slammed for planning an additional refinancing charge to cover COVID-related losses, but the head of the Federal Housing Finance Agency defended the policy in House testimony.

The fintech, which spent most of the last decade touting various alternative ACH-powered faster payments approaches, is adding the more mainstream option of debit push payments in its latest iteration.

Immediate will use Visa Direct to provide real-time access for employees to collect earned, but not yet paid wages before scheduled payday.

The central bank said it would keep interest rates at current levels through at least to help the U.S. economy recover from the coronavirus pandemic.

The pandemic has upended many business tasks, creating a rush among processors to expand the digital experience without complicating it.

The company, which left New York in 2015 to avoid its regulations on virtual currencies, has found a more welcoming state.

More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments.

Led by HSBC, European banks account for the largest share of the announced reductions, according to a Bloomberg analysis.

New analysis from CO-OP Financial Services showed credit union members veering closer to traditional card usage, but the lack of additional pandemic relief could hamper interchange growth this fall.

Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.