American Express can prohibit merchants from encouraging customers to use other cards with lower fees, an appeals court has ruled. The decision reverses a lower court's finding that American Express violated antitrust laws with its policy.
Banks with less than $250 billion in assets that do not conduct significant nonbank or international activity would be exempt from the "qualitative" portion of the Federal Reserve's annual stress test under a Fed proposal. Separately, the Fed intends to require more capital from banks that are systemically important to the global economy, Fed Governor Daniel Tarullo said.
Presidential nominees Hillary Clinton and Donald Trump had a heated first debate that touched on issues such as taxes, the economy, the Federal Reserve, regulations, race relations and foreign affairs.
Consumers worldwide are expected to conduct transactions worth $23.2 trillion via card and $22.6 trillion via cash this year, according to Euromonitor International. This would be the first time consumers spend more using card than cash.
Girl Scouts in North Carolina and South Carolina can earn a "women in technology" badge, thanks to the efforts of Cathy Bessant, Bank of America's chief operations and technology officer. Girls earn the badge, which carries the BofA logo, by passing a cybersecurity course or a banking course.
Sen. Bernie Sanders, I-Vt., says he supports an effort by Sen. Elizabeth Warren, D-Mass., to block Wall Street executives from presidential appointments should Hillary Clinton win the White House. "We need people in the administration who will stand with working families and the middle class," Sanders said.
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