Fintech

WASHINGTON – The Federal Reserve’s proposal to slash interchange fees on debit transactions by as much as 70% could devastate the finances of some credit unions, forcing them to institute fees on no-charge services such as checking, credit unions are telling the Fed.

NCR Corp. says its Scalable Deposit Module for ATMs has strong momentum at large banks.

The online banking and bill payment provider Online Resources Corp. said Friday that its board is "evaluating unsolicited expressions of interest in potential business combinations."

Juxtaposed, U.S. Bancorp and Wells Fargo's 4Q reports suggested the banks most likely to grow business loans fastest are those simply most willing to offer more favorable rates.

SEATTLE-Starbucks Corp.'s Grande-sized mobile payments trial has gone Venti. The Seattle coffee chain last week said it has expanded its smartphone payment system to include about 6,800 company-operated stores after piloting the technology for more than a year.

DALLAS-Credit unions have shown in recent months that mortgage lending is a potential area for growth, but Angela Calvert warns CUs to tread carefully.

MADISON, Wis.-In 2011, credit unions will need to prudently take more lending risks and price that risk appropriately.

TALLAHASSEE, Fla.-The old CU adage that you can "make it up with volume" is actually true when it comes to debit revenue in 2011.

RIVERWOODS, Ill.-For Kevin O'Donnell, finding a growth opportunity in 2011 means looking no further than the fact fewer than one in three members carry a credit card from their CU.

Becoming more efficient, installing up-to-date technology and reducing fraud all will be priorities for credit unions that seek to grow in 2011, but Eric Porter of CO-OP Financial Services says the most important is taking advantage of banks' current weakness.