MasterCard today said that not enough MasterCard-issuing banks accepted the proposed $19 million settlement with Target by the May 20 deadline. The settlement was seeking participation from issuers representing at least 90 percent of eligible MasterCard accounts accepting offers through the settlement. “We will continue to work to resolve this matter,” MasterCard said in an email to its issuers. For further information, contact ABA’s Molly Wilkinson.
Nearly nine in 10 people say customer experience is just as important as a bank’s products and services, according to a recent survey. Asked why they left their primary bank, concerns over security was the top reason cited.
A recent study found that the vast majority of participants couldn’t distinguish between real content and deepfake images and video, even when told to look for fakes.
Federal Reserve Chairman Jerome Powell said there was “less volatility” on the Fed board before the creation of a vice chairman for supervision, and that volatility is not helpful for the financial institutions it regulates.
The Consumer Price Index rose 0.5% in January after rising 0.4% the previous month, and increased 3% over the past year, the Labor Department said.
President Trump has sent to the Senate the nominations of Jonathan Gould to be comptroller of the currency and Jonathan McKernan to be director of the CFPB, according to news reports.
The NFIB Small Business Optimism Index fell by 2.3 points in January to 102.8, although it remained above the 51-year average of 98, the National Federation of Small Business said.
