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House lawmakers add credit card competition bill

September 20, 2022

Like its Senate companion, the House bill seeks more card network competition as merchants fight for lower interchange — or “swipe” — fees. Those fees, typically around 2%, are what merchants pay to route transactions through the card giants’ networks. […]


Holiday spending to rise 7.1%: Mastercard

September 13, 2022

Category: News

Overall, the card company expects spending to rise over 2019 pre-pandemic levels this holiday season, despite the uncertain economic environment, including inflation and higher interest rates. Indeed, Mastercard expects total retail sales, excluding auto, to jump 18.8% over the 2019 […]


Bank of America to issue revamped office-return policy in 6-8 weeks

September 7, 2022

Category: News

Bank of America will release a revamped office-return policy in the next six to eight weeks, CEO Brian Moynihan told an audience Tuesday at a banking conference in New York. “We’ll have more flexibility than we did, on paper, before,” […]


Capital and Risk, Operational

Revolut falls victim to “highly targeted” cyber-attack

September 21, 2022

Via: FinTech Futures

In an e-mail to affected customers, the fintech says that while their money is safe and no card details, PINs or passwords were accessed, some individuals may be vulnerable to fraud and phishing attacks. A Revolut spokesperson says: “Revolut recently […]


Regulations

Big Regional Banks Might Face New Rules for Dealing With a Crisis

September 18, 2022

Via: Yahoo

A group of President Biden-appointed bank regulators are considering new rules to require large regional banks to add to financial cushions that could be called on in times of crisis. The steps under consideration include requirements that the regional firms […]


Capital and Risk, Liquidity

Euro ( EUR) Forecast – Punchy Fed Rate Hike Will Force EUR/USD Ever Lower

September 16, 2022

Via: DailyFX

Euro Area headline inflation (August) was confirmed at 9.1% today, a fresh record high. Energy prices continue to rise, along with food, alcohol and tobacco, and services. On a monthly basis, consumer prices rose by 0.6%, a fraction higher than […]