Fintech

CAMBRIDGE, Mass. – MIT FCU, the credit union for Massachusetts Institute of Technology employees, has hired national branding and design firm Corey McPherson Nash to develop a brand strategy stretching across the $385-million credit union’s multiple channels.

Visa Inc. and MasterCard Inc. don’t infringe a patent owned by SmartMetric Inc., a company that had sought as much as $13.4 billion for alleged use of its technology in “smart” debit and credit cards.

ANN ARBOR, Mich.—A “cash mob”-style initiative that began last year in Michigan has spread to Louisiana and Ohio.

SCOTTSDALE, Ariz.—The price tag for new technology can be high, but savvy credit unions are finding ways to remain on the leading edge of financial services delivery without breaking their IT budgets.

MasterCard is working with Parkeon, a parking management company, to enable merchants to deliver offers and loyalty programs to motorists while they are parking their cars.

JACKSON, Miss. – HOPE CU is offering free members and financial counseling to African-American recipients of the $1.2-billion Black Farmers Discrimination lawsuit against the U.S. Department of Agriculture, which is being distributed in payments of $50,000 by the federal government to 7,500 claimants in the midSouth.

Maria Rueda, Heartland Payment Systems' chief financial officer, submitted her resignation on Sept. 25, according to an 8-K filing on Oct. 1.

WASHINGTON — Banks and other credit card issuers are charging less in penalties and doing a better job of disclosing previously hidden fees, according to a report due out Wednesday by the Consumer Financial Protection Bureau.

The payments industry has a significant security challenge on its hands as too many consumers become "chronic oversharers" of their personal and payment card data, says Ellen Richey, chief enterprise risk officer for Visa Inc.

Cardtronics' subsidiary Cardtronics USA has purchased the ATM assets from CGI, adding 1,000 merchant-owned ATMs to Cardtronics' U.S. fleet.