Fintech

Customizable card designs are not just for people wanting photos of their cats emblazoned on their credit cards. Such an offering also has a role at government agencies to help combine ID cards and payment cards.

Retailers were singing the praises of a federal judge's ruling July 31 that the Federal Reserve Board overstepped its authority in how it capped debit-card fees. And banks were humming a different tune.

ALEXANDRIA, Va. – Pentagon FCU said it will start charging a $1 a month fee tomorrow for members who continue to pay their credit card bills by paper, as well as increase the year-old fee it charges for receiving consolidated account statements by paper to $1 from 50 cents a month.

WASHINGTON – The credit union lobby is predicting this morning’s court ruling striking down the Durbin amendment’s swipe fee caps could have dire consequences for credit unions and banks.

Heartland Payment Systems Inc., which has been forging multiple partnerships in emerging payments markets, says its net revenue has risen to record levels.

Consumers with the ability to pay larger amounts than the minimum payment due on their credit cards had much lower delinquency rates on not only their cards, but also their auto loans and mortgages, according to a new TransUnion study.

The Federal Reserve disregarded Congress's intent when deciding how much banks can charge merchants for debit-card transactions, a judge ruled, rejecting Dodd-Frank-imposed regulations governing "swipe" fees.

WASHINGTON -- A federal judge this morning struck down the new limits on swipe fees for debit cards, ruling that the Federal Reserve had flouted Congress's intent when it set the cap.

TOWSON, Md. – In one of the biggest naming rights deal for a credit union, State Employees CU has agreed to pay $475,000 annually for ten years to have nearby Towson University, the second largest university in the state system, to rename its new 5,200-seat Tiger Arena the SECU Arena.

Prepaid cards, widely accepted by the underbanked as a way to facilitate spending, are also emerging as a catalyst for saving and an alternative to short-term credit.