Latest Headlines

NCUA Chairman Debbie Matz stresses importance of FSOC’s credit union report

National Credit Union Administration Chairman Debbie Matz urged credit unions to take notice of the topics presented in the Financial Stability Oversight Council’s annual report released last week. The FSOC recommended in its report that regulatory agencies continue to analyze how potential interest rate fluctuations could adversely affect... Read More...

Consumer spending increases in first quarter despite payroll tax increase

Data released by the U.S. Department of Commerce revealed that despite an increase in the payroll tax, consumer spending in the first quarter increased 3.2 percent from the fourth quarter, the largest increase in two years. “No one should write off the consumer simply because of the two percentage-point increase in payroll taxes,” Bernard... Read More...

NAFCU expresses support for SBA amendments to 7(a), 504 programs

The National Association of Federal Credit Unions recently expressed its support for the Small Business Administration’s proposed rule amendments designed to expand the accessibility of its 7(a) and 504 programs. The SBA proposed to eliminate the personal resource test used to determine whether a person or entity can be considered a... Read More...

New Zealanders forego use of cash in favor of e-payments

The rise of digital wallets has slowly pushed many New Zealand residents away from cash and towards electronic payments and internet banking. Data from MasterCard’s Survey on Consumer Purchasing Priorities found debit cards to be the most popular choice for making every day purchases such as groceries, personal care goods and dining out,... Read More...

Harvey Spencer Associates launches voice recognition study to offset Dodd-Frank costs

Harvey Spencer Associates, Inc., announced last week the launch of a new study aimed at identifying opportunities for the use of voice recognition biometric technologies to cut back on compliance costs under Dodd-Frank. The 2010 Dodd-Frank Act requires major swaps and derivatives traders to implement policies and procedures that allow for the... Read More...

Justin Timberlake partners with MasterCard to offer exclusive fan experiences

Award-winning singer Justin Timberlake has entered a two-year partnership with MasterCard to provide fans and cardholders with exclusive access to co-created content, events and experiences. MasterCard Priceless Premieres will host a performance by Timberlake in New York City on May 5, and cardholders registered with the credit card issuer’s... Read More...

Treasury stresses importance of industry vigilance in preventing cyber-attacks

Cyrus Amri-Mokri, the U.S. Treasury’s assistant secretary for financial institutions, stressed the importance of efforts aimed at enhancing cyber security on Monday. “The dependence of the global financial system on a rapid and accurately functioning technological infrastructure cannot be overstated,” Amri-Mokri said in remarks prepared... Read More...

Merchant Data Systems offers expanding services to merchants

Merchant Data Systems is reaching out to certain businesses to offer its expanding credit card processing services to help merchants capture credit card revenue. While many consumers choose plastic over cash, many smaller retailers like motorcycle dealers opt for cash and check as sole payment options to avoid risk, which could cut into their... Read More...

« Older Stories