Cards

The Federal Deposit Insurance Corp. announced settlements Wednesday with student banking business Higher One of New Haven, Conn., and WEX Bank of Midvale, Utah, for deceptive practices in the marketing of college and university debit accounts.

One in every three card-present transactions globally from July 2014 to June 2015 involved an EMV-chip card, according to EMVCo.

Green Dot is giving its chief financial officer job to Mark Shifke, who has been the firm's acting CFO for the last seven months.

The uncertain state of the prepaid card market doesn’t faze Texas entrepreneur Houston Frost, who has relaunched the Akimbo prepaid card, a concept he’s championed since 2011.

WASHINGTON -- More than 442,400 consumers were affected by the Oct. 12 glitch that froze RushCard users’ funds after a payment processor switch, the company told lawmakers.

Chief Executive Steve Streit said that the company's lower fee structure did not generate enough additional purchase volume to overcome the loss of revenue.

Graves had been executive vice president since 2008 at the prepaid card maker, and he has worked at InComm since 1997. In his new position, Graves will report to Brooks Smith, chief executive.

Mobile wallets have long struggled to displace cash and cards, so Ingo Money chose a different target: check-cashing.

The introduction of EMV cards didn't significantly slow transaction times at U.S. retailers during the Black Friday shopping event, but there are still many wrinkles to iron out at the point of sale.