Fintech

Lucrative sale of a subprime lending unit. Big credit card deal. Clear business plan. It's looking like a good year for Citi — provided it passes the CCAR stress test this week and fills a key executive post.

The European Parliament on March 9 voted in favor of capping interchange fees for domestic and cross-border transactions, a move that many European banks anticipated.

A lot of change in the payments business is unavoidable, such as EMV-chip cards and mobile commerce, so the high-tech card maker Stratos plans to replace its cards each year as part of a membership program.

Industry groups are urging the Pentagon to soften its proposed expansion of a rate cap on loans sold to service members, but banks face opposition from dozens of advocacy groups that favor tougher restrictions.

For small credit unions it's a chilling reality: grow, merge or die trying. So it should come as no surprise that CUNA's Governmental Affairs Conference kicked off with a standing-room-only session on small CUs.

EL CENTRO, Calif. — Palm Springs Federal Credit Union said it intends to merge into Sun Community Federal Credit Union, here, which would create a combined credit union with $325 million in assets, $36 million in capital and more than 36,000 members.

ATMs in some key Las Vegas locations will allow consumers to obtain U.S. dollars with foreign payment cards through Monex Financial Services' dynamic currency conversion technology.

The age of the interactive card may have finally arrived, ushered in by the U.S. shift to the EMV standard.

As a bank customer, I am trained to avoid fees at all costs. I diligently maintain a minimum balance in my accounts, pay my credit card bills weeks ahead of time and plan my day around getting to a bank-owned ATM to avoid surcharges.

Focus Federal Credit Union announced it has earned its Community Development Financial Institution certification.