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The U.K.’s Competition and Markets Authority (CMA) is on the verge of announcing its decision in its regulatory review of Mastercard’s acquisition of VocaLink, the London-based agency said.
The CMA early this year flagged a potential threat to competition in the U.K. from the $920 million merger, noting that Mastercard’s control of the Link ATM network would reduce the U.K.’s domestic ATM network options from three providers to just two (with Visa).
The agency sketched a few possible solutions Mastercard could consider to offset the competitive risk, and as early as Wednesday the CMA is expected to release its verdict on whether Mastercard’s response will be satisfactory or warrant a deeper investigation by U.K. regulators.
Master Card credit cards are arranged for a photograph in New York, Friday, February 9, 2007. Photographer: Daniel Acker/Bloomberg News.
The bank, which owns 48.5% of the Greek fintech, is battling with the company's owners over how to determine valuation, among other disputes. JPMorgan says it is reviewing aspects of the legal case but is still seeking a $1 billion claim in Greece.
Three executives at Space City Credit Union in Houston will get a total of $6.75 million if the cooperative's members approve a merger. The 12,000 or so members will split $5 million.
The Trump administration has withdrawn from the Federal Register a proposed rule that sought to protect consumers from having their sensitive financial information sold.
New York Attorney General Letitia James is accusing Capital One of deliberately deceiving customers and obscuring higher interest rates. The lawsuit comes less than three months after the CFPB dropped a similar case against the bank.
A joint study by the Federal Reserve Bank of New York and the Bank for International Settlements found that a shift to widespread tokenization would not impact central banks' ability to transmit monetary policy, and that the technology could even prove beneficial.