Fintech

Currently, the maximum a federal credit union can charge on most loans is 18%. But a proposal from Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez to lower that to 15% on consumer credit could reduce access, experts said.

The responsibility falls on employers to facilitate a payroll function that helps their workers access funds efficiently regardless of whether an employee chooses or is forced to forgo traditional banking, writes Brian Radin, president of Comdata's prepaid and payroll card business.

It's tempting to reach for higher returns on securities in anticipation of tightening margins. However, that strategy has pitfalls, including underestimating risks or being caught flat-footed by future rate moves.

Global Payments' purchase of TSYS is the latest merger of large payment technology companies — and by no means the last.

More businesses are considering moving away from cash and checks, according to a recent survey by Citizens. That should be a wake-up call to smaller institutions, said Michael Cummins, who oversees treasury solutions at the regional bank.

The East Lansing-based credit union plans to open two branches in the Traverse City area, more than three hours north of its headquarters.

The digital banking provider Simple has been part of BBVA for five years, and its reputation as an easy way to handle and transfer digital money has only grown in that time frame through the addition of faster payments and P2P services.

Payments technology provider AscendantFX has added an international payment scheduling service to its APay online payment platform to help corporations automatically schedule and submit batches of cross-border transactions in advance of due dates.

Online lenders now have close to 40% of the unsecured personal loan market, much of which is refinanced credit card debt. Some financial institutions' card portfolios are taking a hit.

Payment solutions that lower the cost of electronic payments through exchange rate transparency ultimately improve the buyer’s relationships with their suppliers, writes Nvoicepay's Alyssa Callahan.