American Credit News

Chase, the largest co-brand card issuer in the U.S., and Marriott Bonvoy®, Marriott International’s travel program and marketplace, have announced new benefits on the Marriott Bonvoy Bold® Credit Card. Cardmembers can now earn more Marriott Bonvoy points toward free stays and Marriott Bonvoy Moments experiences across various everyday spend categories. Additionally, they have access to a new Travel Now, Pay Later benefit. These enhancements aim to help cardmembers achieve their travel goals by unlocking more experiences within Marriott Bonvoy’s portfolio of over 30 brands and...

Bank of America has introduced a new transaction search engine with integrated investigation capabilities on its CashPro platform. This development aims to provide corporate finance departments, treasurers, and CFOs with the same ease and convenience they experience in managing personal finances.

Last week, AFSA’s State Government Affairs team released its July white paper. This month's white paper explores artificial intelligence.

On July 10, 2024, Chairman of the House Financial Services Committee Patrick McHenry (NC-10) led Republicans in a debate on the House floor concerning a veto message accompanying H.J. Res. 109. This resolution pertains to congressional disapproval under chapter 8 of title 5, United States Code, of a rule submitted by the Securities and Exchange Commission (SEC) related to "Staff Accounting Bulletin No. 121."

Washington, D.C. – The Federal Deposit Insurance Corporation (FDIC) has provided minimal transparency regarding its financial management decisions and the imposition of a special assessment on large banks to recover costs from the spring 2023 bank failures. The Bank Policy Institute (BPI) has called for more detailed explanations in a letter sent today, urging the FDIC’s Office of Inspector General to investigate the agency's decision-making processes related to these events.

Wilmington, DE – July 10, 2024 – To mark the 30th anniversary of the British Airways Visa Signature® credit card, Chase and British Airways have introduced Luggage Tagged, a sweepstakes designed to encourage travelers to explore new global destinations.

The House Financial Services Committee is holding its semi-annual hearing with Federal Reserve Chairman Jerome Powell today. Amid ongoing inflation concerns, Republicans are urging Chair Powell to maintain the Federal Reserve's independence and resist political pressures, particularly regarding proposals like Basel III Endgame.

CHARLOTTE, NC – Actualmente, el 46% de la generación Z (entre 18 y 27 años) depende de la ayuda financiera de sus padres y familiares, según un nuevo estudio del equipo de educación financiera de Mejores Hábitos Financieros® de Bank of America. Además, el 52% de los encuestados afirmó que no gana suficiente dinero para vivir la vida que desea y citan el costo de vida como el principal obstáculo para el éxito financiero. Muchos indicaron que están posponiendo metas como comprar una casa (50%), ahorrar para la jubilación (46%) o empezar a invertir (40%) en los próximos cinco años.

Bank of America will report its second-quarter 2024 financial results on Tuesday, July 16. The results will be released at approximately 6:45 a.m. ET, followed by an investor conference call at 8:30 a.m. ET.

The Electronic Payments Coalition (EPC) has launched a national advocacy campaign titled "Guard Your Card" to inform Americans about the potential risks associated with new government mandates proposed in the Durbin-Marshall Credit Card Bill. According to the EPC, these mandates could undermine the secure and convenient credit card payment networks that consumers and small businesses rely on daily.

The average cost of cash acceptance at bars and restaurants has surpassed 15%, according to a recent report by the Small Business & Entrepreneurship Council (SBE Council). The report highlights that card and electronic payment options offer significant savings for many businesses, along with convenience and safety for consumers.

Founded in 2017, DataSeers offers a suite of solutions utilizing Artificial Intelligence (AI) to enable banks and fintech companies to improve reconciliation, compliance, fraud detection, and more.

In his opening remarks at the U.S. Senate Committee on Banking, Housing, and Urban Affairs semi-annual hearing with Federal Reserve Chair Jerome Powell, Ranking Member Tim Scott (R-S.C.) addressed the impacts of Bidenomics on American families. Scott also urged Powell to increase transparency in the financial regulators' rulemaking process and reiterated calls for a re-proposal of the current Basel III Endgame proposal.

The House Financial Services Committee, chaired by Patrick McHenry (NC-10), convened a hearing today with Treasury Secretary Janet Yellen to discuss the state of the international financial system. Republicans emphasized concerns over the Biden Administration's foreign policy strategies, suggesting these approaches undermine America's global leadership.

The featured Business Partner for the month of July is Cox Automotive. Cox Automotive is transforming the way the world buys, sells, owns, and uses vehicles. Dealertrack, Kelley Blue Book, and Manheim solutions provide lenders with the connectivity and confidence to thrive in this ever-changing automotive market.

Washington, D.C. (July 8, 2024) — The Independent Community Bankers of America (ICBA) announced its upcoming ICBA ThinkTECH Accelerator program Showcase will take place at the Graduate School of Banking at Colorado (GSBC). The showcase, marking the culmination of the latest Accelerator program (AP7), is part of ICBA’s commitment to fostering collaborative community bank-fintech partnerships that reflect current market dynamics and future customer needs.

AFSA recently joined the U.S. Chamber of Commerce in filing a coalition amicus brief urging the United States Court of Appeals for the Fourth Circuit to hold that a unilateral change-in-terms provision does not render an arbitration agreement illusory and unenforceable.

Independent Banker magazine, the monthly publication of the Independent Community Bankers of America® (ICBA), has announced its 2024 Top Lenders. This accolade recognizes outstanding agriculture, commercial, and consumer and mortgage loan producers across three asset size categories.

The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced a field hearing on financial institutions and monetary policy. The hearing is titled “Financial Institution-Fintech Partnerships: Leveraging Third-Party Relationships to Increase Access to Financial Services.”

The American Fintech Council (AFC) has announced a strategic partnership with the Association of Military Banks of America (AMBA). This collaboration aims to enhance financial wellness for U.S. military and veteran communities by combining AFC's mission to support responsible fintech companies and innovative banks with AMBA's dedication to serving military personnel and their families.