CheckFreePay, a division of Fiserv Inc., announced this week that consumers can pay more than 300 bills using its next-day service, double what it previously offered. CheckFreePay enables consumers to pay utility, mobile-phone, insurance, credit card and other bills by bringing cash to a walk-in location, according to the company. CheckFreePay operates 12,000 bill-payment locations in 48 states, according to the company. Consumers pay $1.50 for two- to three-day bill processing, or $2.50 for next-day processing. CheckFreePay announced in May it began offering its bill-payment services through Ready Credit Corp.'s kiosks (CardLine 5/16). "We feel this reflects a trend toward faster payments in general," Ann Cave, a CheckFreePay spokesperson, tells CardLine. "Consumers, regardless of the channel they are paying in, have an increased expectation of speed."
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The Treasury Department held a high-stakes huddle with state insurance officials to discuss risks associated with the rapid growth of private credit in the economy and whether those investments could pose systemic vulnerabilities.
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The lenders' examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.
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Sen. Elizabeth Warren, D-Mass., the ranking member of the Senate Banking Committee, warned in a letter to the Office of the Comptroller of the Currency Thursday that its proposed rollback leaves regional banks dangerously unsupervised.
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The measure, sent Thursday to the governor's desk, would mark the second state ban on interchange fees and could inform an ongoing bank-led legal challenge to a similar Illinois law.
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An April 20 bankruptcy filing accuses Kfir Gavrieli of recruiting friends, family and his synagogue to sign sham contracts that inflated Aspiration's revenue.
May 7 -
Research from American Banker shows that at least a quarter of all respondents see BNPL as a credible threat to credit card revenue.
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