The Consumer Financial Protection Bureau (CFPB) and Federal Reserve raised the dollar thresholds for applicability of Truth in Lending (Regulation Z) and Consumer Leasing (Regulation M) rules. In 2025, these rules generally will apply to consumer credit transactions and consumer leases of $71,900 or less, the regulators said in a Friday (Oct. 4) press release. The agencies must adjust these thresholds each year based […]
There’s a commonality in financial services — for brick-and-mortar players and for several FinTechs, though the approach may differ: Serving the needs of lower-income households. The big banks have lost at least some share to neobanks — FinTechs that have been able to carve out a niche serving households earning roughly $50,000 or less. Digital […]
Toy manufacturer LEGO Group has reportedly removed a “LEGO Coin” token scam that briefly appeared on its homepage after being hacked on Oct. 5, reports state. X user and LEGO enthusiast “ZTBricks” was among the first to spot the scam, which promised “secret rewards” to those who bought LEGO Coin, several screenshots on X show: “Our new […]
September’s outsized payrolls boost takes the U.S. economy out of the shadows of recession and gives the Federal Reserve a fairly open glide path to a soft landing. If that sounds like a Goldilocks scenario, it’s probably not far from it, even with the lingering inflation concerns that are straining consumers’ wallets. A gravity-defying jobs […]
Innovation in business-to-business (B2B) payments used to be measured in decades, not years. But now, it can be measured in months — even weeks — as B2B payments undergoes profound transformations. “The three main driving forces are a change in demands and expectations on both the buyer side as well as the supplier side, the changing […]
Visa and CARD91 have partnered to enable regulated entities to issue Forex Cards on the Visa network. This collaboration brings together Visa’s digital payments network and CARD91’s issuance platform-as-a-service solutions to improve the issuance experience for both cardholders and issuers, the companies said in a Thursday (Oct. 3) press release. “We are excited to work […]
NEW YORK, Oct 4 (Reuters) – Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as U.S. President Joe Biden discouraged Israel from targeting Iranian oil facilities. Brent crude futures rose 43 […]
September’s outsized payrolls boost takes the U.S. economy out of the shadows of recession and gives the Federal Reserve a fairly open glide path to a soft landing. If that sounds like a Goldilocks scenario, it’s probably not far from it, even with the lingering inflation concerns that are straining consumers’ wallets. A gravity-defying jobs […]
U.S. East Coast and Gulf Coast ports began reopening late on Thursday after dockworkers and port operators reached a wage deal to settle the industry’s biggest work stoppage in nearly half a century, but clearing the cargo backlog will take time. The strike ended sooner than investors had expected, weakening shipping stocks across Asia on […]
FOMO Pay, a Singapore-based major payment institution, has announced a partnership with Visa. Through this collaboration, FOMO Pay will integrate Visa’s QR into the SGQR network, enabling cardholders to scan the QR code and pay with their Visa cards. FOMO Pay will enable SGQR merchants to accept Visa QR payments, enabling the use of Visa […]
September’s jobs picture is expected to look a lot like August’s — a gradual slowdown in hiring from earlier this year, a modest increase in wages and a labor market that is looking a lot like many policymakers had hoped it would. Nonfarm payrolls are projected to show growth of 150,000, from 142,000 the month […]
Swift wants to let banks test tokenized transactions on its global messaging network. Beginning next year, financial institutions (FIs) will be able to carry out pilot transactions for settling digital assets and currencies, Swift announced Thursday (Oct. 3), in hopes of demonstrating how FIs can transact interchangeably across asset and currency types using their Swift […]
