CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the CardWeb.com’s the
US Bank Flex Perks “Jerry” TV spot.
The U.S. Department of Defense issued a final rule expanding the types of credit products that are covered by the 36% rate cap and other military-specific protections under the Military Lending Act. The Act provides servicemembers and their dependents with specific protections for their “consumer credit” transactions.Details
VA-based PenFed Credit Union (PenFed) has ankled Zubair Rana as its chief marketing officer. Rana will oversee all marketing and advertising operations for PenFed, which holds $18.6 billion in assets, and is one of the largest credit unions in the country.Details
The eBay PayPal divorce is over and will quickly evolve into a major disruptive force in payments and e-commerce to the dismay of the payment networks. Under the leadership of former American Express executive and now PayPal President and CEO Dan Schulman the Company will likely grow at a compound annual growth rate (CAGR) of nearly 17%.Details
Citibank’s average yield for its U.S. retail credit card portfolio rose 11 basis points (bps) in the second quarter, compared to one-year ago, and up 4 bps sequentially. The net interest revenue (NIR), which includes some fees, also jumped by 26 bps year-on-year (YOY) for Q2/15, but down slightly from the prior quarter. Also, credit quality improved in the quarter.Details
The largest telecom operator in Korea, KT, agreed last week to deepen cooperation with China’s UnionPay for mobile payment and technology exchange. The deal covers six major fields as Near Field Communication (NFC), mobile payment, online payment, cross-border remittance, electronic marketing based on smart mobile terminal, financial-technology business, and promote the comprehensive upgrading of innovative payment service via UnionPay cards in Korea.Details
London-based Worldpay has ankled Sir Michael Rake to become Non-Executive Chairman on September 1. Sir Mike brings a wealth of experience to Worldpay, having spent 30 years at KPMG where he was Senior Partner at KPMG UK, as well as Chairman of KPMG International.Details