Fintech

The $189 million-asset credit union has asked approval from state and federal regulators to convert to a state-chartered mutual savings bank.

The prepaid card industry is ramping up its advocacy efforts on Capitol Hill as the Consumer Financial Protection Bureau readies a final rule targeting such products.

KNOXVILLE, Tenn. — The inaugural TNMIC Conference took place here last week, drawing more than 80 credit union young professionals from across Tennessee, organizers said.

COLORADO SPRINGS, Colo. — Aventa Credit Union recently launched its all-new website, which it said features a "fresh, modern look," improved functionality and enhanced content.

SAN DIEGO – San Diego County Credit Union on Monday said it had “positive” financial results for the first quarter of 2016, highlighted by growth in total assets, members and lending.

It didn't take long for debit card issuers affected by the Durbin amendment fee caps to cut back or eliminate rewards programs to recoup costs. Issuers now engaged in the increasingly competitive credit card rewards and loyalty environment may soon have to face that same decision.

U.S. Bancorp said Friday that it has agreed to sell its majority stake in a Brazilian technology division of its Elavon payments processing subsidiary.

Synchrony Financial reported solid earnings growth in the first quarter thanks to increased use of its credit cards, but the firm's credit performance was slightly weaker.

There's plenty of criticism of the U.S. chip card migration, including its pace, the pressure on merchants to upgrade and the lingering confusion over how to use the cards. But Visa painted a more bullish picture of the migration.

Issuers still have a choice of whether to require PIN authentication for EMV-chip cards, but David Nelms, chairman and CEO of Discover Financial Services, says the chip-and-PIN path increasingly makes the most sense for U.S. payment cards going forward.