Fintech

Implementation of the Durbin amendment’s cuts in debit interchange fees cost the biggest issuers billions of dollars in lost revenues, according to a new survey published this morning by the Federal Reserve.

This story was updated with more information from its original version.

If Cardtronics Inc. was a sports franchise, its owners would be singing the praises of the team’s “balanced attack” on offense and how it translates to victories.

The Federal Reserve Board on May 1 published comparative information on the average debit card interchange fees that each payment card network charges acquirers (and indirectly merchants) and provides to debit card issuers (see release).

WASHINGTON – Implementation of the Durbin Amendment’s cuts in debit interchange fees cost the biggest credit unions and banks billions of dollars in lost revenues, according to a new survey published this morning by the Federal Reserve.

A unit of The Bancorp Inc. of Wilmington, Del., is working with PayPal Inc. to offer electronic person-to-person payments through its affinity relationships.

BALTIMORE–The Durbin amendment to the Dodd-Frank law so far has had a positive effect on MasterCard Worldwide’s debit card market share, according to a top executive for the network.

CORPUS CHRISTI, Texas – State regulators said this morning they have approved an application from Navy Army Community CU, one of the biggest conversions ever to state charter, to serve 1.2 million residents in surrounding Hidalgo and Cameron counties.

Co-op Financial Services is testing a two-way video service on its network using ATMs from Diebold Inc., the companies announced May 1.

WASHINGTON–When the Consumer Financial Protection Bureau recently announced it planned to scale back proposed limits on credit card fees, consumer groups and some in the media immediately criticized it.