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CFPB sues credit card company over excessive fees

Payments Dive

The agency says Horizon Card Services violated the Truth in Lending Act by charging fees as high as 60% of a customer’s credit limit, and all but refusing to cancel their cards.

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U.S. Bank Unifies Global Commercial Card Platforms

PYMNTS

“The individual cards may be serviced by the local card issuer in that country or region, but we’re managing the overall program, doing a single contract throughout the world, underwriting the process, setting the credit limit and negotiating the pricing terms,” Rankin said.

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8 Southeast Asian Fintechs Featured in Forbes Asia 100 to Watch List

Fintech News

Zed (Philippines) Zed card, Source: Zed Zed is a forthcoming credit card service in the Philippines that plans to offer a unique, fee-free approach to credit aimed primarily at young professionals, particularly those new to credit or without an extensive credit history. million downloads.

FinTech 113
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Brex Raises VC Funding As It Launches Card For Startups

PYMNTS

Brex said it spent the last year working with its customers to develop a product using technology to help get around the financial and regulatory hurdles that usually prevents early-stage companies from credit card services.

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Everything You Need To Know About What Amazon Is Doing In Financial Services

CB Insights

Like secured credit cards offered at banks, it requires a one-time deposit between $100 and $1,000 at the time of the account opening, which then becomes the card’s credit limit. In Q3’16, Amazon also invested in prepaid gift card services company Qwikcilver.