Payment fees

House Republicans are pushing the CFPB to continue to allow banks and credit unions to estimate exchange rates and fees for money transfers.

Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow.

Avidia Bank joins the network even as other community banks call on the Fed to create its own real-time payment service to compete.

Apple’s aggressive posture when it makes moves in retail and payments has drawn a lot of pushback and controversy, but its setback in the Supreme Court could be the most dire threat yet to the growth of Apple Pay.

The rule requires disclosure of exact fees but institutions can estimate pricing under an exception that will expire in 2020. The CFPB is seeking comment to prepare for that deadline.

So far, 2019 has been characterized by a series of eye-catching strategic deals within the global payments ecosystem, with new players positioning themselves to rival Visa and Mastercard. The card networks giants have responded by pursuing a strategy to become less reliant on transactional fees.

The Minneapolis bank reported mid- to high-single-digit improvement in those categories, but total loan growth was curbed by declines in CRE and other credit types.

Bill.com is eliminating wire-transfer fees for businesses making electronic payments in local currencies in key global markets, as competition in the small- to midsize B2B payments sector heats up.

The Federal Reserve has suggested it could join the market for instant interbank payments, but private-sector entrants would be better.

The Federal Reserve has suggested it could join the market for instant interbank payments, but private-sector entrants would be better.