reuters

Visa, Mastercard Offer Tourist Card Fee Cut in EU Antitrust Probe

Visa and Mastercard have offered to trim the fees merchants pay on card payments by tourists in the European Union in an attempt to stave off possible fines after a long-running antitrust investigation, people familiar with the matter said.

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Cyber Monday on Track for U.S. Online Shopping Record

Cyber Monday was on track to bring in a record $7.9 billion in U.S. online sales, as millions of shoppers scoured for steep discounts on everything from Lego sets to big-screen TVs.

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ECB Steps Up Checks of Banks at High Risk of Laundering Money

The European Central Bank is stepping up scrutiny of banks it sees at high risk of laundering money by launching a dedicated network of watchdogs sharing information on the matter, its chief supervisor Daniele Nouy said on Tuesday.

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France Hopes to Lure Crypto-issuers With Gallic Stamp of Approval

With hundreds of cryptocurrencies being issued every month, countries face a choice: ban them, leave them unregulated, or come up with rules to tame them. France is pursuing the third option, which might be regarded as a Gallic middle ground. It wants cryptocurrencies to be issued in France as long as those backing them agree […]

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Swiss Watchdog Investigates Banks Over Alleged Payments System Boycott

Switzerland’s competition watchdog has raided the offices of financial companies, including Credit Suisse and UBS, to investigate a suspected boycott of mobile payment solutions such as Apple Pay and Samsung Pay.

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Morocco Expects 50 Billion Dirhams in Mobile Payments by 2023

Morocco expects mobile wallet payments to hit 50 billion dirhams ($5.3 billion) a year by 2023 as it prepares to launch a mobile payment service by the end of this month, a central bank official said on Tuesday.

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U.S. Online Spending Set to Rise 14.8 Percent in 2018 Holiday Season

NEW YORK (Reuters) – U.S. online spending during the holiday shopping season is likely to grow 14.8 percent this year to $124.1 billion, far outpacing the 2.7 percent growth predicted for brick-and-mortar locations and highlighting the ongoing switch from stores to web shopping.

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U.S. State Banking Regulators Sue Government to Stop Fintech Charters

A body of U.S. state banking regulators on Thursday sued the federal government to void its decision to award national bank charters to online lenders and payment companies, saying it was unconstitutional and puts consumers and taxpayers at risk. The Conference of State Bank Supervisors (CSBS) said it had filed a complaint in the U.S.

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Fed Sets October 31 Meeting to Vote on Bank Deregulation Rules

The U.S. Federal Reserve will consider a proposal that would ease rules for all but the nation’s largest banks at an Oct. 31 board meeting, the central bank announced on Wednesday. The proposal, which has yet to be unveiled, would implement several major provisions of a bank deregulation bill Congress passed in May.

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Bank of Japan Doubts Digital Currency Will Enhance Monetary Policy

Bank of Japan Deputy Governor Masayoshi Amamiya said on Saturday it was doubtful whether central banks could enhance the effectiveness of their monetary policies by issuing digital currencies.

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‘Unbanked’ in U.S. Hits Lowest Level Since Financial Crisis – Survey

A new government survey released Tuesday showed the percentage of Americans who did not have a checking or savings account fell to the lowest level since the 2 financial crisis. In 2017, just 6.5 percent of 129.3 million U.S. households were considered unbanked, according to new data from the Federal Deposit Insurance Corporation (FDIC).

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Fintech Making Inroads, but Little Changed in U.S. Bank Revenues

Financial technology startups and other new entrants are making inroads in the U.S. banking market, but have yet to capture a threatening share of bank revenues, according to research published by Accenture Plc on Wednesday. Around 19 percent of financial institutions in the U.S.

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