Fintech

Banks lost billions in overdraft revenue last year, even as they passed on higher fees to consumers, new research shows.

To make electricity bill payments easier for residents of the Indian capital city of New Delhi, the city’s electric-utility provider plans to work with Mumbai-based Axis Bank Ltd. to enable bill payments at the institution’s ATMs.

Increased consumer spending on credit cards in North America and Europe was enough to have executives from Total System Services Inc. singing the praises of solid fourth-quarter earnings and, for the time being, soft-pedaling the potential future loss of Green Dot Corp.’s processing business.

TCF Financial Corp. in Wayzata, Minn., which last year withdrew a lawsuit challenging a law limiting interchange fees, posted an off quarter it attributed to decreases in fee income.

NetSpend has entered into a distribution agreement to sell its Visa prepaid cards at 5,000 7-Eleven locations in the U.S., the provider of general-purpose reloadable prepaid debit cards and related financial services announced Jan. 25.

Green Dot Corp. has purchased some assets of eCommLink, allowing it to move its processing in-house, the Prepaid card marketer said Jan. 24.

UniRush LLC plans to lower the fees on its reloadable prepaid cards.

YAKIMA, Wash. – Yakima Valley CU and Catholic CU have completed their combination, creating a $475-credit union to be known as Solarity CU.

ALEXANDRIA, Va. – NCUA yesterday reported it approved three more conversions from federal to state charters in December, making nine for the year.

ALEXANDRIA, Va. – NCUA on Tuesday said it approved four more mergers for billion-dollar-plus credit unions, as credit unions giants ended the year as they began it – acquiring their smaller brethren.