Fintech

Eleven Democrats on the Financial Services Committee have asked the heads of the Treasury Department and IRS to eliminate service charges tied to debit cards used to distribute COVID-19 relief.

The motivation behind JPMorgan Chase's purchase of rewards company cxLoyalty is clear — travel spending and rewards have suffered greatly during the pandemic — but another problem Chase is tackling with this acquisition is the need to wean people off cash rewards.

Michael Moeser, senior analyst at PaymentsSource, talks to Jennifer Philo, group vice president of U.S. commerce at Blackhawk Network, about the ways the global pandemic has transformed the use cases for gift cards, prepaid cards and loyalty products the company supports.

JPMorgan Chase is buying cxLoyalty, a major credit card loyalty platform, in a bid to enrich its own card loyalty programs when travel resumes after the global pandemic.

The company promoted two executives as part of an effort to revamp its leadership team and establish a bigger presence in the Carolinas.

Gilles Gade, one our community bankers to watch in 2021, led an effort that made Cross River Bank one of the biggest Paycheck Protection Program participants. He is ready for his team to pick up where it left off when the new stimulus package kicks in.

Tennessee retailers turned to cash acceptance as they continued to recover Monday from the Christmas Day explosion in downtown Nashville.

Members of $6.3 million-asset FIAFE Federal Credit Union will vote early next year on whether to merge into $43 million-asset Central Credit Union of Maryland.

In the early days of the pandemic, when consumers seemed loath to touch cash or a PIN pad, it seemed that PIN authentication might have had few days left. But that hasn't been the case.

With one study showing consumers racking up additional credit card debt this season, some members may be eager to consolidate their balances in the year ahead.