Payments/Credit/Debit

While many aspects of the credit union business have changed since 1990, few have changed more than the placement, use and role of ATMs.

The average yield for interest-bearing rewards checking programs of credit unions and banks is now at 3.3%, according to a new study issued by Bankrate Inc. the Florida-online research firm.

Credit union card portfolios continued the improved performance they have demonstrated in the last several years in 2009, and the card portfolio sales continued their slow pace as the volumes of card assets that changed hands rose a bit.

Fair Isaac Corp. wants the next generation of scores to not only reflect a record of how well or poorly consumers have paid their debts in the past but also to predict how they are likely to react to future economic events.

To help financial institutions break down the barrier to Gen Y, two companies have conducted studies and research on the wants and needs of this heavily sought after generation.

Retailers expressed disappointment this morning that the Senate version of financial reform legislation formally unveiled yesterday does not address the issue of credit and debit card interchange.