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Mastercard Commits $500M To Boost Black Communities, Businesses

PYMNTS

Mastercard said it will invest $500 million in Black communities across the U.S. The new initiative will include “concentrated investments that will focus on providing Black-owned businesses and Black people access to affordable financial tools and capital,” Mastercard said in a news release. Louis and Dayton, Ohio.

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Supreme Court: Amex Anti-Steering Does Not Run Afoul Of Antitrust Law

PYMNTS

The ruling in the case, Ohio vs. American Express , was handed down with a 5-4 vote. In 2010, Visa and Mastercard settled with the Justice Department, and yet Amex pushed on with its assertion that higher fees served as a benefit to cardholders. The June 25 decision may cap a legal battle that began years ago.

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Gonzo Notes from Money20/20

Gonzobanker

Bankers had long suspected MCX’s plan was to bypass the Visa/MasterCard rails by processing transactions as ACH. Brian Mooney, CEO of Merchant Customer Exchange (MCX), also used his stage time to talk about the pilot under way in Columbus, Ohio, with many merchants. Innovation we saw that we’re all not talking about enough: lending.

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Last Call for FinovateSpring 2015 Tickets

Fintech Labs Insights

Lending Club. MasterCard. Ohio Valley Bank. Javelin Strategy & Research. Justice Federal CU. LexisNexis. Libro Credit Union. Life.SREDA. Mercator Advisory Group. Metropolitan Capital. Mindful Insights. Mountain America CU. New York Life. North Hill Ventures. Obvious Ventures. Privat Bank. PostFinance.