PYMNTS
MARCH 19, 2020
The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). was formed in 2009 as a payment services provider to enable businesses to accept card payments. Square, Inc.
PYMNTS
OCTOBER 19, 2020
The release says the mobile app will also come with a prepaid debit card that can be used anywhere. and comes with other benefits like off-cycle payments, patented checks and optional prepaid debit cards, allowing workers full access to their pay through those solutions. percent in 2009. percent in 2011, from 7.6 percent.
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CFPB Monitor
OCTOBER 17, 2022
Last week, the CFPB released its eleventh annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act. The CARD Act requires mandatory reporting to the CFPB by card issuers on agreements with institutions of higher learning or certain affiliated organizations (such as alumni associations).
PYMNTS
NOVEMBER 9, 2020
percent in 2019, its lowest rate in a decade since the FDIC first began tracking this statistic in 2009. Another FDIC report found that 31 percent of American consumers are now using peer-to-peer (P2P) mobile wallet apps, for example. This represents a noted reversal from trends of the past decade.
CFPB Monitor
FEBRUARY 4, 2015
Tasca Today, the CFPB entered a consent order that requires subprime credit card company, Continental Finance Company, LLC (“Continental”), to refund an estimated $2.7 million to consumers who were charged alleged illegal credit card fees. million in consumer funds deposited during 2013 were not FDIC insured.
PYMNTS
MARCH 18, 2019
recently fell to the lowest rate since the 2007-2009 financial crisis, but a new product launch from JPMorgan Chase & Co. The accounts come with debit cards, digital payments and free check cashing, but do not allow overdrafts.”. The percentage of unbanked people in the U.S. underscores the fact that tens of millions of U.S.
PYMNTS
OCTOBER 13, 2016
The year was 2009, and it was rough for some, but a fertile ground for others. “I Kabbage offers a variety of loans up to $100,000 with types scaling from SBA and Small Business Credit Cards, to Online and Peer-to-Peer, to Equipment and Inventory, to Payroll and Professional Loans. Fees range from 1.5
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