Will Wal-Mart's new checking account product create a competitive challenge for the financial services industry? A senior financial analyst and a credit union CEO don't think so.
Sen. Dick Durbin (D-Ill.) files an amicus brief with the Supreme Court, arguing for a lower Fed interchange cap.
It's short-sighted for credit unions to dismiss new competition from two giants with loyal customers.
The credit union community allegedly eclipsed 100 million members this year. The figure is bogus, and even the most religious credit union believers know that figure includes not a small amount of double counting from memberships by one person at multiple credit unions and other account structures.
A credit union CEO and a financial analyst say Wal-Mart's new checking account won't directly compete with credit unions.
U.S. District Court Judge John Gleeson ruled July 18 that retailers unhappy with the settlement of a credit card interchange civil suit may continue with a new legal proceeding against major card brands.
A Friday ruling allows retailers who opted out of last year's settlement to proceed with new suits. Card brands can also countersue retailers.
Fans of the San Francisco 49ers are such avid users of social media channels that Esurance seized on an opportunity to create for them even stronger ties to the NFL football team.
Sam's Club, Wal-Mart's membership-only retail warehouse operation, will issue proprietary credit cards that will carry an EMV chip for authentication beginning June 23, the company said.
The Mountain West CU Association launches CU.PAY to help credit unions compete with PayPal and other micro payment providers.