Rumors of Mr. Bill's demise at the hands of Mr. Hands and Sluggo are greatly exaggerated. More than 30 years after the clay figure first appeared on NBC-TV's Saturday Night Live, with his trademark yelp, "Oh, noooo," Mr. Bill will be starring in advertisements for MasterCard Worldwide's debit card. During regular appearances on the late-night television show for seven years, Mr. Bill was stabbed, set on fire, scalped, flattened and maimed—just to name a few of the indignities he endured. So why bring back the long-suffering star? "Mr. Bill is an iconic character who is always on the receiving end of situations Mr. Hands bestows upon him. In our new spot, we put a sunny twist on Mr. Bill's adventures," Chris Jogis, MasterCard vice president of U.S. brand development, tells CardLine. The "Priceless" television spots will begin Monday. Although Mr. Bill likely will be best-remembered by consumers over the age of 35, MasterCard is not using the character to market to any particular group, according to Jogis, who cites "mass-market" as the chosen demographic for the ads. "Instead of using cash, debit MasterCard is a tool that helps consumers monitor and manage expenses, empowering them to be the financial hero of their everyday lives," Jogis says of the message MasterCard is trying to convey with the Mr. Bill ads.
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The Federal Reserve's April financial stability report found that asset valuations remain elevated, even as investors are beginning to demand more compensation for risk amid rising uncertainty around monetary policy.
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Banking groups that sued the state of Illinois over its law barring banks from charging interchange fees on taxes and tips cheered an appeals court ruling remanding the law to a lower court and vowed to keep the law going into effect, which is slated for July 1.
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Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.
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Affirm CEO Max Levchin said that the company did not have any plans for AI-spurred layoffs despite the fact that it was using the technology more for software engineering.
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Leaders from Wells Fargo, JPMorganChase and more talked about how banks can respond to the fast-moving changes in money movement, new forms of artificial intelligence, fraud, digital assets and more.
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The payments company posted strong adjusted earnings following a dramatic downsizing, which management attributed to the influence of artificial intelligence.
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