Fintech

ST. JOHNS, Mich. – Clinton County FCU was approved by NCUA to convert to a community charter serving 200,000 residents in Clinton, Gratiot or Shiawassee counties.

JPMorgan Chase & Co.’s consumer credit card unit reported net income of $849 million for the quarter ended Sept. 30, down 8.3% from $926 million a year earlier, as fewer consumers opened new accounts and the percentage of consumers revolving a balance declined. The unit results, for the first time, included auto and student lending, the company said.

Independent ATM operators and a trade association have filed a new suit charging that Visa Inc. and MasterCard Worldwide network rules unlawfully prohibit ATM operators from offering lower prices for transactions over PIN-debit networks that are not affiliated with the two companies.

CHICAGO—Consumers will decide which mobile wallets they want to use and that is why financial institutions should participate in as many as possible, a Citigroup Inc. executive on Oct. 12 told attendees here at the BAI Retail Delivery conference.

With e-commerce becoming a bigger target for payment data theft, Global Payments Inc. intends to provide its online merchants with another set of fraud-detection tools.

Wells Fargo & Co. is expanding its remittance network by adding access points in Latin America and Asia, in an attempt to gain more money-transfer business from former Wachovia Corp. customers.

PayPal Inc. is putting itself at nearly every possible point of a consumer's banking relationship – from account-opening to payments and even reward-redemption – through a series of new partnerships.

U.S. Congressman Jason Chaffetz (R-Utah) and Congressman Bill Owens (D-New York) today plan to introduce legislation aimed at repealing the debit card interchange rate-control provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the lawmakers announced.

Staking out its place in what may become a new competitive front in the ATM industry, NCR Corp. has inked a partnership with PayPal Inc. enabling person-to-person payments through ATMs, the company announced Oct. 12.

Seeking to become a dominant player in the growing school-meals payments arena, a Heartland Payment Systems, Inc. unit has announced the purchase of School-Link Technologies Inc., its fourth such acquisition in the last 10 months.