The American Bankers Association (ABA) has announced that legislation aimed at reducing credit card interchange fees could negatively impact community banks and limit access to credit.
Anthony Lamorena, Senior Federal Affairs Manager at the R Street Institute, said that savings from interchange fees under the Credit Card Competition Act (CCCA) are unlikely to benefit consumers.
Indraneel Chakraborty, a Professor of Finance at the Miami Herbert Business School, University of Miami, said that the Credit Card Competition Act would significantly impact small credit card issuers by reducing their already thin profit margins.
This week, the American Financial Services Association (AFSA) responded to a Request for Information on Deregulation issued by the Office of Management and Budget (OMB).
Bank of America has announced an enhancement in cash back rewards for new cardholders of its Customized Cash Rewards and Unlimited Cash Rewards credit cards.
The global securities finance industry experienced a decrease in lending revenue in 2024, according to DataLend, a market data service of fintech company EquiLend.
Blue Owl Capital Corporation and Blue Owl Capital Corporation III have received endorsements from proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis & Co. for their proposed merger.
Forward Financing, a company that provides revenue-based financing to small businesses, has announced the appointment of Jason Mullins as its new President and Chief Executive Officer.
A recent study from the University of Miami's School of Finance has analyzed the potential impact of proposed mandates in the Durbin Marshall Credit Card Bill and similar state-level interchange legislation.
Nolan Moran, Director of Sales and Partner Management at DataOceans, emphasized the importance of implementing a modern self-service portal for lenders.
Navy Federal Credit Union has announced the expansion of its Permanent Change of Station (PCS) Initiative, aimed at supporting Active Duty Servicemembers and their families during relocations.
Phil Goldfeder, CEO of the American Fintech Council, has commented on the Buy-Now-Pay-Later (BNPL) provisions included in New York State's 2025 budget.