Fintech

U.S. Bancorp executives view the issuer's portion of the proposed $7.25 billion swipe-fee settlement, which some merchants are fighting, as an expense already incurred.

The Consumer Financial Protection Bureau issued its first enforcement action Wednesday, ordering Capital One Bank N.A. to pay $165 million for what the agency described as deceptive marketing tactics related to various credit card products.

Visa Europe should match MasterCard's lower fees for credit cards to settle a European Union antitrust investigation, the EU’s antitrust chief said.

M-Via, which offers a mobile checking account called Boom, said July 18 that it closed a $17 million financing round led by Digicel Group Ltd. M-Via is also changing its name to Boom Financial.

The Durbin amendment in Dodd-Frank eliminated debit-network exclusivity, prompting heightened competition among the electronic funds transfer networks.The NYCE network, which is owned by FIS, already has benefited.

Kmart's new reloadable prepaid debit card will do double duty for both the mega-retailer and Green Dot Corp., which provides the card.

Shopkick's mobile rewards system has relied so far on small devices retailers install at their doors to signal to an app that a customer has visited in person. But for a giant like Macy's, those little devices can add up to a big headache.

Alliance Data Systems Corp. reported delinquencies and chargeoffs fell in June from a year earlier for the private-label cards it manages.

PayPal announced July 17 that it has acquired financial technology start-up Card.io.

WATERBURY, Conn. – Waterbury Firefighters CU said it has changed its name to FD Community FCU to reflect the community charter for the city of Waterbury and recognizing its heritage founded in the city’s fire department.