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Florida becomes first state to adopt CCE’s financial literacy standards

The state of Florida recently became the only state in the U.S. to adopt standards for teaching students about personal finance based on the Council for Economic Education’s (CEE) National Standards for Financial Literacy. The move comes just one year after the Florida legislature adopted a measure to make financial education mandatory for... Read More...

PayByPhone mobile parking payment app available on Amazon products

PayByPhone—an enterprise of PayPoint—recently announced the availability of its mobile parking payment app for Amazon Fire, Kindle Fire and Appstore users. The Fire phone’s NFC capabilities work with PayByPhone’s parking meter stickers in San Francisco and Seattle—the stickers contain electronic chips that store information like the... Read More...

GAO: CFPB’s Civil Penalty Fund needs additional oversight

A recent report from the Government Accountability Office (GAO) on the CFPB’s Civil Penalty Fund found that while the agency has implemented a number of internal controls, more needs to be done to document transactions originated in the fund. Civil penalties levied by the CFPB are placed into the fund to compensate potential eligible victims... Read More...

U.S. Bank releases suite of business traveler payment enhancements

U.S. Bank recently announced a new suite of tools aimed at securing, enhancing and streamlining payments made by business travelers. The new capabilities, which will be introduced during the Global Business Travel Association’s annual conference this week, include U.S. Bank Travel VirtualPay, real-time credit limit change capabilities and... Read More...

Minnesota CU Network hosts elder financial abuse prevention training

The Minnesota Credit Union Network hosted more than 50 representatives from in-state credit unions last week during a forum aimed at providing training to staff on identifying and reporting instances of elder financial abuse and fraud. The credit union league said credit union staff are often the first to encounter, and therefore more likely to... Read More...

Richmond introduces bill to allow USPS to offer financial services

Rep. Cedric Richmond (D-La.) introduced legislation last week that would allow the U.S. Postal Service (USPS) to offer basic financial services, a plan proposed by the postal inspector general earlier this year. The Providing Opportunities for Savings, Transactions and Lending Act—or POSTAL Act—would allow USPS to offer checking... Read More...

MasterCard names Ram Chari CEO of newly acquired ElectraCard Services

MasterCard recently announced the appointment of Ram Chari, a senior business leader with the company, to head the recently acquired ElectraCard Services Private, Ltd., in Pune, India. Chari most recently served as a leader in MasterCard’s alliances processing division in the Asia Pacific, Middle East and Africa department. With more than... Read More...

Visa announces new secure payments offerings for internet devices

Visa announced last week a new suite of offerings aimed at securing payments across a number of internet-connected devices and wearables. Visa Digital Solutions offerings will fall into two categories: support for new methods of payment and technology to protect consumers and facilitate innovation, according to a Visa press release. “Visa... Read More...

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