Fintech

Citigroup executives were at pains to explain the benefits and challenges of a new partnership with Costco that has netted the bank millions of new credit card customers but also added to its cost burden in the second quarter.

If the financial services industry wants to avoid spending years aimlessly testing blockchain prototypes, it needs to focus on coming up with standards and working together.

The Maine Credit Union League recently announced a radio advertisement initiative beginning July 1 that includes 2,000 paid and no-charge 60-second commercials that will air throughout the summer highlighting the SurF campaign and the credit union movement.

FIS is working with ATM processing and services provider Payment Alliance International to expand its Cardless Cash program nationally.

Citibank is offering surcharge-free ATM access to the customers of 16 credit unions and minority-owned banks in six cities.

Lobbyists for the credit union industry are decrying a proposal to limit forced arbitration clauses despite ample evidence that credit unions don’t use such clauses in the first place.

Congress should abandon the idea of repealing a section of the Dodd-Frank Act that has helped make pricing for payment processing more competitive.

London wants to export its popular open-loop contactless payment system for mass transit to other global cities, through a new licensing deal with Cubic Transportation Systems.

Glendale Area Schools CU recently converted from a federal charter insured through NCUSIF to a state charter with private insurance through American Share Insurance, in part because the CU's outspoken CEO Stuart Perlitsh says the federal regulator is often "out of touch" with a credit union's local environment.

United Heritage Credit Union, Austin, Texas, on Tuesday said it has launched a new insurance company known as UHCU Insurance Services, LLC.