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HSBC settles with FHFA for $550 in MBS securities lawsuit

The HSBC announced a $550 million settlement with the Federal Housing Finance Agency last week over claims brought against the financial services company regarding its sale of mortgage-backed securities to Fannie Mae and Freddie Mac. The FHFA filed the lawsuit against HSBC and more than a dozen other banks in 2011, alleging that HSBC sold the... Read More...

One of largest U.S. credit unions selects CU Wallet as mobile provider

One of the country’s largest credit unions recently invested in and selected CU Wallet—the payments industry’s first credit union-focused mobile payments initiative—as its mobile payments and wallet provider. Security Service Federal Credit Union (SSFCU), headquartered in San Antonio, Texas, is one of the 10 largest credit unions in the... Read More...

ETA to host Mobile Payments Day

The Electronic Transactions Association (ETA) recently announced it will host Mobile Payments Day at the end of the month in a joint venture with the Merchant Advisory Group and Federal Communications Bar Association. Mobile Payments Day, which will be held on Sept. 30 at The City Club of Washington, will feature mobile payments companies,... Read More...

Fed, CFPB raise dollar thresholds for exempt transactions under Regulations M, Z

The Federal Reserve and CFPB announced on Tuesday that they will raise the dollar thresholds in Regulations Z and M for exempt consumer credit and lease transactions under the Truth in Lending Act (TILA) and Consumer Leasing Act. The adjustments—based on the annual percentage increase in the consumer price index on June 1—will take effect... Read More...

Capital One partners with Apple Pay for contactless payments

Capital One said on Tuesday that its customers will have access to Apple Pay, Apple’s new payment service, beginning next month. According to the company, in October, customers can use their debit and credit cards directly from their iPhone 6, iPhone 6 Plus and Apple Watch to make purchases. “Working with Apple, we’re excited to bring... Read More...

ACI Worldwide calls for submissions for annual innovation awards

ACI Worldwide, an electronic payment solutions provider, announced on Tuesday a call for submissions for the 2015 ACI Innovation Awards, which recognizes developing solutions and technologies in the payments industry. "Innovation keeps us at the leading edge of payments," Craig Saks, the executive vice president and chief product officer at ACI... Read More...

PayPal expands fingerprint authentication to Note 4, Gear S users

PayPal announced last week that biometric technology allowing customers to login using their fingerprint to make a purchase will be available on Samsung’s new Note 4 and Gear S. The announcement was made during the Samsung Unpacked Episode 2 event held in Berlin, Beijing and New York last Wednesday. “By giving more people the option to... Read More...

Visa kicks off Checkout ad campaign with Sunday night pizza promotion

Visa debuted its national advertising campaign for Visa Checkout on Sunday by announcing up to one million customers could win a free pizza from Pizza Hut. The television advertising campaign featured professional surfer Kolohe Andino with direction from Doug Liman. The first one million fans to purchase a large pizza for delivery online at... Read More...

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