Friday August 31, 2018 –
Here are the new and noteworthy stories we have been following this week.
US student debt balloons past $1.5tn
US student loan debt has surpassed $1.5 trillion despite declining new originations.
https://www.ft.com/content/18530da6-a637-11e8-926a-7342fe5e173f
Airlines Cash In on Loyalty Credit Cards
Airline credit cards are proving to be a boon as card revenue outpaces sales growth.
https://www.wsj.com/articles/airlines-cash-in-on-loyalty-credit-cards-1535362202?redirect=amp
Google Teams With Banks to Launch Digital Lending for India
Google is partnering with four banks to bring instant credit at the POS via Google Pay.
U.S. banking regulator kicks off low-income lending rules rewrite
The OCC is starting the process to seek public input on the Community Reinvestment Act (CRA) with a view to rewriting the rules.
PayPal Partners With Brazilian Bank Itaú Unibanco
PayPal announced a partnership with Itaú Unibanco to offer its services to the bank’s cardholders and merchants.
https://www.nytimes.com/reuters/2018/08/29/technology/29reuters-paypal-hldg-itau-unibco-hldg.html
Counterfeit fraud at U.S. chip-enabled merchants down 75%
Latest Visa statistics show continued strong progress in EMV adoption and decline in fraud.
https://usa.visa.com/visa-everywhere/security/visa-chip-card-stats.html
Splitit Enables Multi-Card and Deferred Payments to Expand Consumer Purchasing Options
Splitit rolls out new offerings allowing consumers to use multiple cards for an installment and also defer payments.
Google and Mastercard Cut a Secret Ad Deal to Track Retail Sales
Google is using Mastercard credit card transaction data to link online ads with in-store purchases.
Bitcoin and other cryptocurrencies are useless
As cryptocurrencies struggle with their utility, will blockchain fare better?
https://www.economist.com/leaders/2018/08/30/bitcoin-and-other-cryptocurrencies-are-useless
Have we learnt the lessons of the financial crisis?
Is China vulnerable? History serves as an important guide to avoiding and managing the next crisis.
https://www.ft.com/content/a9b25e40-ac37-11e8-89a1-e5de165fa619
PM Modi launches India Post Payments Bank: Things to know
India launches Post Payments Bank leveraging the country’s postal network with the goal of driving financial inclusion.
