News Topic: Payment fees

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The agency announced changes meant to reduce compliance costs and allow some institutions to provide estimates rather than disclose exact prices for international money transfers. ... Read full article

House Republicans are pushing the CFPB to continue to allow banks and credit unions to estimate exchange rates and fees for money transfers. ... Read full article

Executives at the Minneapolis bank, who expect two Fed rate cuts this year, said they can rely on growth in noninterest income to soften the blow. ... Read full article

Avidia Bank joins the network even as other community banks call on the Fed to create its own real-time payment service to compete. ... Read full article

The rule requires disclosure of exact fees but institutions can estimate pricing under an exception that will expire in 2020. The CFPB is seeking comment to prepare for that deadline. ... Read full article

The Minneapolis bank reported mid- to high-single-digit improvement in those categories, but total loan growth was curbed by declines in CRE and other credit types. ... Read full article

The Federal Reserve has suggested it could join the market for instant interbank payments, but private sector entrants would be better. ... Read full article

Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.” ... Read full article

If the company they plan to establish comes together and works — still a big if — it could give JPMorgan an edge in competing with other banks, lead to innovative payments and other products and create unforeseen issues. ... Read full article

Dueling blockchain stories — one arguing it was virtually useless, the other saying it could change real estate lending — seized the top spots this week, while readers also focused on tax reform aftermath and a key Senate retirement. ... Read full article

Merchants have been challenging surcharge bans in numerous states on free-speech grounds. They have the wind at their backs following another court victory on Wednesday. ... Read full article

Commercial customers, including small businesses, seem ready to pay up to shift to faster, more sophisticated electronic invoicing and payments, and enterprising banks that provide them the technology to do so could find it lucrative. ... Read full article

The Cincinnati bank says its investment unit is taking an equity stake in NRT Sightline to provide a wide range of banking and payments services to casino operators. ... Read full article

The U.S. Supreme Court ordered closer scrutiny of a New York law that bars merchants from imposing surcharges on credit card purchases, giving a group of retailers a partial victory by saying the measure might violate their free-speech rights. ... Read full article