WILMINGTON, DE / BETHESDA, MD – September 26, 2024 – The Marriott Bonvoy Bold® Credit Card from Chase has announced the launch of the Bold Chat Court contest. This initiative aims to transition group trip plans from discussions in group chats to actual travel experiences. Halle Bailey, an award-winning singer-songwriter and actress, has partnered with the Marriott Bonvoy Bold® Card to distribute a total of 5 million Marriott Bonvoy points to 10 travelers, each receiving 500,000 points.
Several trade associations, including the American Financial Services Association (AFSA), have expressed their support for Representative Andy Ogles' (R-TN) Congressional Review Act aimed at nullifying the Consumer Financial Protection Bureau's (CFPB) rule to establish a "repeat offender" registry. The associations argue that the proposed registry will not benefit consumers and may lead to higher costs for financial products while reducing access to credit.
The American Financial Services Association (AFSA) has raised concerns regarding a proposed rule by the Federal Communications Commission (FCC) that would require handsets to be unlocked even if the installment contract has not been paid off. AFSA's letter to the FCC outlines three primary issues with this proposal.
Bank of America has introduced a new banking solution aimed at helping parents guide their children in developing sound financial habits. The product, SafeBalance Banking® for Family Banking, is designed to provide parents with the necessary tools and resources to teach their children money management through a secure digital platform.
Electronic Payments Coalition (EPC) Executive Chairman Richard Hunt issued a statement on Senator Dick Durbin’s recent legislation targeting American companies and workers who have opposed the Durbin Marshall Credit Card Bill.
The American Fintech Council (AFC) has expressed support for the Department of the Treasury's recent approach to artificial intelligence (AI) in the financial services sector. Ian P. Moloney, AFC's Senior Vice President and Head of Policy and Regulatory Affairs, commended the Department’s efforts.
Pollsters are closely monitoring the East Coast states of Pennsylvania, North Carolina, and Georgia as Election Day approaches. A recent Washington Post poll from Pennsylvania highlights the tight race for the White House and its impact on down-ballot races.
A group of Democrat Senate and House members have reintroduced the Stopping Abuse and Fraud in Electronic (SAFE) Lending Act. This legislation, which has been introduced in the last two Congresses, faces opposition from the American Financial Services Association (AFSA). The bill seeks to prohibit convenience checks and require state-licensed installment lenders to register with the Consumer Financial Protection Bureau (CFPB).
The Bank of America Chicago Marathon has made a substantial impact on the local economy, contributing a record $547 million in 2023. This represents a 42% increase from the previous year's $386 million, according to an independent study by Jones & Associates Economics.
The Independent Community Bankers of America (ICBA) has expressed concerns over the increasing number of acquisitions of tax-paying banks by tax-exempt credit unions.
The American Fintech Council (AFC) has announced the addition of Spring Labs as its newest member. Spring Labs, founded by experienced fintech entrepreneurs, focuses on using AI-driven technology to help financial institutions streamline operations and enhance productivity while maintaining high compliance standards. This membership aligns Spring Labs with other companies dedicated to creating a more transparent and efficient future for financial services.
The Electronic Payments Coalition (EPC) has issued a response to the recent antitrust suit filed by the U.S. Department of Justice against Visa. The statement, released by EPC Executive Chairman Richard Hunt, criticizes the government's approach towards payment networks.
Bank of America plans to open more than 165 new financial centers across 63 markets by the end of 2026. This includes nearly 40 centers set to open this year, in addition to over 100 centers opened in the last two years.
Barclays has announced the appointment of Antonio (Tony) Castañon as Chief Operating Officer for its US Consumer Bank and Barclays Bank Delaware. In this role, Castañon will manage the bank's consumer operations across the United States.
The Association of Military Banks of America (AMBA) has announced the promotion of Andia Dinesen from Executive Vice President of Communications and Operations to Chief Operating Officer (COO). With AMBA’s increasing focus on growth, innovation, and strategic engagement, Dinesen’s enhanced responsibilities will include an emphasis on driving strategic execution and operational excellence of AMBA’s programs. She has been a significant contributor to the organization since she joined in 2013.
Bank of America Corporation announced today that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z (CUSIP No. 060505EM2), liquidation preference $25,000 per share (the “Preferred Stock”), and the corresponding depositary shares each representing a 1/25th interest in a share of the Preferred Stock (CUSIP No. 060505EL4) (the “Depositary Shares”).
Yesterday, former President Donald Trump addressed the economic challenges Americans have faced in recent years. He stated, "While working Americans catch up, we’re going to put a temporary cap on credit card interest rates. We’re going to cap it at around 10%. We can’t let them make 25 and 30%."
WASHINGTON D.C., September 19, 2024 – As part of its commitment to serve the financial needs of the Greater Washington, D.C. region and as the bank of choice for people with disabilities, Chase is opening its second branch with a unique focus on disability inclusion. The branch, located at 550 Morse St. NE, will be staffed by employees fluent in American Sign Language (ASL) and is situated just outside Gallaudet University, a global leader in education for Deaf and hard of hearing students.
WASHINGTON, DC—Sen. Roger Marshall (R-Kan.), according to a report in Punchbowl News, recorded an advocacy commercial paid for by the Merchant Payments Coalition, a DC trade group funded by the nation’s largest corporate mega-stores. In the ad, Sen. Marshall repeats the inaccurate claims MPC and other supporters of the Durbin-Marshall Credit Card Bill have made in their lobbying efforts on Capitol Hill.