Americas

Payments Canada, which provides clearing and settlements, has hired payments infrastructure firm SIA as the application provider for Lynx, its new high-value payments system.

Credit card issuers would have to set aside more in reserves because of higher loss histories, according to research by Keefe, Bruyette & Woods on the impact of the new loan-loss standard.

The Michigan-based institution also awarded $315,000 in bonus reward points to members who use the CU's credit card.

Fairwinds Credit Union in Orlando is set to buy Friends Bank, the third time this year a Florida-based bank has agreed to sell to a credit union.

The Illinois company will pay $46 million for a bank that is a fraction of its size.

Fairwinds Credit Union's deal for Friends Bank marks the third time this year that a Florida bank has agreed to be sold to a credit union.

The national awareness initiative has broadened its rollout to the Carolinas after launching in Minnesota earlier this year.

In the tug-of-war over merchants refusing either cash or cards embroiling local governments in New Jersey, New York City and Philadelphia, the Iowa State Fair is taking the middle ground. Beginning next year, all fair vendors will be required to accept cash, cards and contactless payments through First Data’s Clover devices.

A field of membership expansion will allow the credit union to serve as many as 400,000 additional consumers.

Greg Hilbert will step down as CEO and president of the Appleton, Wis.-based institution in April 2020.