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Kansas City Fed issues research briefing on buy now, pay later

CFPB Monitor

The Federal Reserve Bank of Kansas City recently issued a research briefing titled “ The Appeal and Proliferation of Buy Now, Pay Later: Consumer and Merchant Perspectives.”. The briefing compares BNPL to other installment options, such as layaway and credit cards.

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Umpqua brings retail banking to Utah, CUSO teams with gift-card firm

American Banker

Umpqua Bank introduces retail banking in Utah, Kansas City CUSO partners with New York gift-card firm, Huntington Bank looks within for new chief DEI officer and more in the weekly banking news roundup.

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Credit Card Interest Rates Rise To Near-Record Levels

PYMNTS

The average interest rates on credit cards are nearing record levels, in spite of a 50-basis-point decline on a 10-year note yield. However, the distance between an average annualized rate and a prime rate on credit cards is getting bigger; at the end of August, it was almost at its largest amount ever. million in Q2.

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Target Circle Loyalty Program To Go Nationwide In October

PYMNTS

The offering does not require a person to have a Target credit card or pay a membership fee.) 19 in five cities: Kansas City, Phoenix, Denver, Indianapolis and Charlotte, North Carolina. In February, news surfaced that Target had been quietly testing the new loyalty program for its Dallas members.

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Health Care Companies Data At Risk Of Being Compromised

PYMNTS

Newkirk issues identification cards for insurance plans, and in early July, it discovered a server that housed information on members of payer organizations was accessed without the proper authorization. An inquiry into it found access was first made in May.

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Fed Concerned Trade War Could Trigger Recession

PYMNTS

Esther George of the Kansas City Fed and Eric Rosengren of the Boston Fed voted to “keep the target range unchanged,” the news outlet said. Americans are now paying the highest level ever on credit card interest rates — and that could have a negative impact on consumer spending and U.S. growth in general.

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Alexa, Stolen Fingerprints And The Rest Of The Week’s News

PYMNTS

KVC Health Systems, a child welfare nonprofit based out of Kansas City, has been hit with an email scam. Card Replacement: Moment of Truth for Banks. New Scam Targets Direct Deposit. The emails look legitimate, and purportedly come from the company’s CEO, CFO or payroll director. Latest PYMNTS Trackers.