McDonald’s is promising that the menu at its new CosMc’s restaurant will be out of this world. The fast food giant, which this week announced that the spinoff brand would be opening its first location in Bolingbrook, Illinois, has revealed the full roster of menu items for the concept. McDonald’s calls CosMc’s a “beverage concept,” […]
Mortgage rates fell for the sixth straight week, hovering just above 7% and reigniting some life back into the refinance market. The rate on the 30-year fixed mortgage decreased to 7.03% from 7.22% the week prior, Freddie Mac reported Thursday. That’s its lowest level since mid-August and down three-quarters of a point since the end […]
In late November, X, the company formerly known as Twitter, acquired three more money transmitter licenses for Kansas, South Dakota, and Wyoming, bringing its licensure total to 12 states for payments processing. This follows Musk’s efforts to transform X into a payments platform where users can access checks, debit cards, high-yield money market accounts, and loan services, […]
State lawmakers in Washington continue to push legislation regarding escheatment and breakage in gift cards. As reported by KIRO in Seattle, two state senators announced plans to introduce legislation to escheat unused funds after a three year period: “Sen. Yasmin Trudeau and Rep. Emily Alvarado highlighted the pressing need for reforms in state laws governing gift cards […]
It’s already been a heck of a week for alternative assets, as gold and bitcoin surge. But analysts are cautioning investors to be wary of rushing in. All that glitters, after all, isn’t gold. What’s happening: The price of bitcoin surged past $44,000 early on Wednesday. It hasn’t been close to this level since spring 2022. That’s […]
Citi has invested in payments technology company Icon Solutions as it modernizes its payments platform. The investment, made via Citi Treasury and Trade Solutions, comes as Citi also plans to expand its use of Icon’s payments framework (IPF) to improve its micro-services orchestration architecture, the banking giant said Wednesday (Dec. 6) in a press release. […]
After surging over 8% in October, mortgage rates are falling back toward 7% again, and that is jumpstarting the refinance market. Last week, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.17% from 7.37%, with points decreasing to 0.60 from 0.64 (including the origination fee) […]
JPMorgan Chase CEO Jamie Dimon lashed out at bitcoin and its peers, suggesting in remarks Wednesday on Capitol Hill that cryptocurrencies should be banned. “I’ve always been deeply opposed to crypto, bitcoin, etc.,” the head of the largest U.S. bank by assets said under questioning from Sen. Elizabeth Warren, D-Mass., during a Senate Banking Committee […]
Mastercard and MDP have announced a partnership to transform the payments landscape for banks and non-FIs in the Middle East and Africa region. This collaboration aims to revolutionize the way payments are processed and services are delivered, creating a more robust and efficient ecosystem for various stakeholders. Mastercard, renowned for its innovative payment solutions, joins […]
Visa has joined the in-vehicle payment revolution. The brand’s heritage is in plastic credit cards, but for quite some time, it’s been a sophisticated global digital-payments platform. Its Visa Acceptance Solutions division has entered a partnership with Sheeva.ai, which enables digital payments using network tokens activated from the dashboards inside vehicles. “Network tokens are the […]
Gold and silver prices are lower in midday U.S. trading Tuesday, on follow-through technical selling following big losses suffered Monday. On Monday gold spiked to a new record high of $2,152.30, basis February Comex futures. Silver hit a seven-month high Monday. Monday’s price action in gold and silver suggests the bulls quickly became exhausted and […]
A year after the G7 price cap on Russian crude oil was introduced, the measure has managed to curtail some of Moscow’s export revenues but has “failed to live up to its potential,” the Centre for Research on Energy and Clean Air (CREA) said in a new report on Tuesday. The U.S. has been leading […]
