NFinanSe Inc. has reached an agreement to sell its Visa- and Discover-branded reloadable prepaid debit cards at Stripes LLC convenience-store locations throughout the southwestern United States, the Tampa, Fla.-based prepaid card provider announced Sept. 6.
Stripes has 525 locations in New Mexico, Oklahoma and Texas.
NFinanSe’s cards sell for $3, and the company charges a $2.95 monthly maintenance and reload fee.
Palm Desert (Calif.) National Bank issues the cards.
The deal will give the bank $1.1 billion of loans in a new segment of the equipment finance business.
The Supreme Court will hear a case in December that could overturn a longstanding precedent bolstering regulatory independence. Should the court strike down that precedent, it could have major implications for the independence of the Federal Reserve.
Federal Reserve Governor Stephan Miran floated the idea of conducting monetary policy with an eye toward the neutral rate and suggested that the president's immigration and fiscal policies will exert downward pressure on inflation.
The credit card giant has reached an agreement to settle a class-action lawsuit involving its coupon-finding browser extension. Content creators had accused Capital One of stealing their sales commissions.
The company is selling its Genius platform to large restaurant and entertainment companies in an attempt to counter the wave of improvements from its rivals.
Federal Reserve Bank of St. Louis President Alberto G. Musalem would not directly say whether central bank independence is under threat, instead highlighting that the topic has received more attention.
