Fintech

Bank of Hawaii in Honolulu has agreed to pay $9 million to settle a class-action lawsuit in which it was accused of improperly charging overdraft fees on debit card transactions.

It's a bit like the Truman Show, if Truman were Australian and had an ATM in his house that broadcast his bank transactions.

Citigroup Inc. plans to issue chip-based credit cards that adhere to the EMV Integrated Circuit Card Specifications later this year.

Union Bank of India Ltd. has signed an agreement with electronic payment services provider ElectraCard Services Pvt. Ltd. to set up an online payment gateway to help strengthen its presence in electronic payments.

U.S. Bancorp has increased its mobile-banking options for prepaid card customers.

Software vendor Aptys Solutions LLC has upgraded a program to make it easier for banks to use the Federal Reserve’s same-day settlement service for automated clearinghouse payments.

Continuing efforts to get its Serve digital wallet into consumers’ hands, American Express Co. has signed a deal with Sprint Nextel to put the payments application on the Sprint Zone website, where Sprint customers go to manage their mobile-phone accounts, Amex announced July 18.

Trying a new approach to prod consumer interest in contactless payment, U.S. Bancorp is testing a wrist gadget that combines tap-and-pay technology with an emergency medical notification device, the bank announced July 18.

Prepaid card issuer MetaBank will pay $4.8 million to customers under an order from regulators in the latest fallout from a discontinued high-interest, small-balance loan product.

Citicorp’s net credit losses dropped 27% to $2.2 billion during the second quarter, driven by Citi-branded cards in North America, John Gerspach, Citi chief financial officer, told analysts during a Friday conference to discuss the quarter’s earnings.