Fintech

U.S. consumers in the first quarter borrowed more to pay for education and automobiles, but overall their debt burden was relatively flat, according to a new report from the Federal Reserve Bank of New York.

Credit union executives talk about where credit unions should be focusing their efforts to innovate.

Opening the door for banks to offer non-branded PIN debit cards and even mobile wallets, the Debit Network Alliance is developing its own application identifier for routing transactions from EMV-chip cards.

Experts urge credit unions to keep an eye on four trends that could be disruptors or big opportunities at CO-OP's THINK15 conference that is aimed at promoting innovation in the credit union industry.

Since fraud liability shifts to the least compliant party after the network-mandated EMV migration dates, it is critical that financial institutions migrate all channels, including ATMs.

InComm, a provider of prepaid gift cards, is working with Credit Suisse Group AG and Deutsche Bank AG on a 2015 initial public offering or sale that may value it at as much as $3 billion, people with knowledge of the matter said.

China's government plans to allow foreign card-payment networks to process domestic transactions. But companies like Visa and MasterCard will have a tough time capturing a percentage of China's explosive payments market.

In theory, all parties benefit when consumers have their choice of payment options, but the deluge of new technologies has led issuers to respond in ways that could create lasting frustration for consumers and merchants.

DUNEDIN, Fla. — Mark down Achieva CU as the latest credit union to buy a bank. The $1.1 billion credit union announced it has signed an agreement to acquire Calusa Bank, a Florida state-chartered bank with $165 million in assets.

WASHINGTON — Two credit unions – Security Service Federal Credit Union in San Antonio and Bethpage Federal Credit Union, Bethpage, N.Y. – made the cut for WalletHub's list of "2015's Best Bank Accounts for Small Businesses."