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Durbin interchange battles resurface

CFPB Monitor

The Fed’s final rule implementing the Durbin Amendment (Regulation II) went into effect in October 2011. Regulation II capped the interchange fee received by large issuers (with $10 billion or more in assets) to 21 cents plus 0.05% of the transaction. Proposed Amendment to Regulation II. New Lawsuit.

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The ICBA 22/23 executive committee is all in

Independent Banker

“I’m so inspired by the professionalism, integrity and commitment of our executive committee and board of directors as we work together to serve the needs of community bankers across the nation,” says Terry Jorde, ICBA senior executive vice president and chief of staff. ICBA president and CEO Rebeca Romero Rainey echoes this sentiment.

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South Dakota Sues Wayfair, NewEgg, Overstock And Systemax Over Lost eCommerce Revenue

PYMNTS

North Dakota. North Dakota.”. Supreme Court precedent that retailers around the nation have relied upon for decades. Newegg believes South Dakota’s new law is unconstitutional, and intends to defend itself vigorously,” Matt Strathman, associate general counsel at Newegg, said Friday.

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California Opens Door For San Francisco Public Bank

PYMNTS

According to reports, the nation’s only public bank currently operates in North Dakota, and was established in 1919. California’s legislation would allow no more than two public banks to receive a license per calendar year, and caps the total number of public banks at 10.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

Pay in 4 is not currently available for residents of Missouri, New Mexico, North Dakota, South Dakota, Wisconsin, or any US Territories. Consumer advocate groups and regulators have also brought forth concerns about the ramifications of BNPL existing outside of the normal credit-reporting system.

Fintech 474
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Vaccine Distribution Hits Snags; CVS And Walgreens Caught In Crossfire

PYMNTS

Further complicating matters, the distribution of vaccines over the last mile is largely determined and regulated by the state. The net result is that Maryland has distributed 46 percent of doses, well below the national average of 53 percent. But it's not all bad news.

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Seven States Approve Marijuana Measures

American Banker

Voters in Florida, North Dakota, Montana and Arkansas approved medical marijuana measures on Tuesday, while their counterparts in California, Massachusetts and Nevada approved recreational pot initiatives.