Bank of America Corporation announced today that it will redeem on August 24, 2024, all €1,500,000,000 principal amount outstanding of its Floating Rate Senior Notes, due August 24, 2025 (ISIN: XS2345784057; Common Code: 234578405) (the “Notes”).
House Financial Services Committee Chairman Patrick McHenry (NC-10) and six subcommittee chairmen have sent a letter to U.S. Treasury Secretary Janet Yellen in response to the Treasury’s Request for Information (RFI) on Artificial Intelligence (AI) in financial services. The lawmakers emphasize the significant potential AI holds for the sector and urge financial regulators to focus on its benefits to consumers as firms increasingly leverage AI.
The Infatuation announced today the return of its signature food festival, EEEEEATSCON, presented by Chase Sapphire. The event is scheduled for Saturday, October 12, and Sunday, October 13 at Forest Hills Stadium in New York City. This marks the fifth year of the festival at this location since its inception in 2018.
Capital One is on a mission to Change Banking for Good, and one way this is realized is through credit card rewards. These rewards, whether in the form of cash back, travel points, or other incentives, provide significant value to both consumers and small businesses. For budget-conscious individuals, credit card rewards can make traveling more affordable or help purchase necessities.
The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), sent a comment letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra with Financial Services Committee Republicans in response to the CFPB’s Notice of Proposed Rulemaking (NPRM) regarding the agency’s proposal to change American credit and health care systems. Prior to the comment letter, Chairman McHenry raised concerns with the NPRM, which would prevent the consideration of medical debt when constructing credit reports.
Frontier Airlines, in collaboration with Barclays US Consumer Bank, has introduced a new benefit for its World Mastercard cardmembers. Effective immediately, primary cardholders are entitled to two free checked bags on all flights operated by Frontier Airlines.
FIFA has announced Bank of America as the Official Bank Sponsor for the FIFA World Cup 26™. This marks the first time a financial institution has become a global sponsor in the banking category for FIFA.
The American Fintech Council (AFC), an industry association representing responsible fintech companies and innovative banks, has submitted a comment letter to the Department of the Treasury in response to its Request for Information on Uses, Opportunities, and Risks of Artificial Intelligence in the Financial Services Sector. In this letter, AFC recommends measures to develop a pragmatic regulatory framework for AI, aiming to increase clarity for industry participants and foster responsible adoption of AI technology in financial services.
All Financial Services Committee Republicans, led by Chairman Patrick McHenry (NC-10), have sent a letter to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg demanding his immediate resignation. Despite announcing his intent to resign, Chair Gruenberg continues to push partisan regulatory initiatives while failing to address widespread and entrenched misconduct at the agency.
Yesterday, the American Financial Services Association (AFSA) submitted comments to the Consumer Financial Protection Bureau (CFPB) on its proposed rule concerning medical debt. In the letter, AFSA highlighted four specific issues with the proposed rule.
The American Fintech Council (AFC) has announced the addition of Scienaptic AI as its newest member. Scienaptic AI, a provider of AI-powered credit underwriting platforms, will join other fintech innovators to enhance consumer services and regulatory compliance.
“Industry Expertise” is sponsored content produced by AFSA’s Business Partners to provide thought leadership and best practices for AFSA member companies. For more information about this sponsored content opportunity, contact Dan Bucherer.
This week, the American Financial Services Association (AFSA) joined DACO Investments, Westside Credit Corporation, Inc., Motorists Acceptance Corporation, and Challenge Financial Services in filing an Appellant’s Opening Brief in the 5th Circuit. AFSA's members, like many businesses across the country, experienced significant revenue shortfalls with the onset of the pandemic.
Welcome to the latest edition of the Round-Up Blog from Assetz Capital for summer 2024. Despite unfavorable weather, it has been a productive and successful period for the company.
The American Fintech Council (AFC) has announced the addition of Oscilar as its newest member. Oscilar, a leader in AI-powered risk decisioning, provides advanced fraud prevention, credit decisioning, and AML compliance solutions. The company joins a group of industry leaders committed to promoting responsible innovation, enhancing financial inclusion, and maintaining robust consumer protection standards.
DETROIT, August 6, 2024 – Rocket Mortgage, the nation’s largest retail mortgage lender and part of Rocket Companies (NYSE: RKT), announced the launch of the Rocket Comedy Tour in partnership with comedian, writer, and director Mike Young. The 25-stop nationwide tour will feature headlining acts alongside Young in intimate theaters across the country, starting in Phoenix on October 11, 2024.
The American Fintech Council (AFC) has urged the Iowa Division of Banking (IDOB) to modernize the state’s consumer finance licensing statutes. The AFC, representing responsible fintech companies and innovative banks, submitted a comment letter advocating for improved access to financial services for historically underrepresented communities and increased regulatory clarity around credit products.
The Merchants Payments Coalition (MPC) continues its campaign to persuade Congress to pass the Durbin-Marshall Credit Card Bill, which is seen as primarily benefiting large corporate retailers. Recently, MPC has made claims about interchange fees that they acknowledge are "difficult to calculate." In a Twitter post, MPC suggested that credit cards are increasing the cost of back-to-school supplies.