This afternoon's All Things Considered on NPR included a segment titled "Rising Bank Fees Squeeze Consumers" that focused on overdraft fees charged by banks on checking accounts. From the story: "Bob Hedges, founder of Mercatus, a consulting firm, said his research shows that the No. 1 reason consumers don't trust their banks is that they feel they're charged too many fees."

Overstock.com has announced it is now giving shoppers the ability to shop and pay later with the promotional financing service, PayPal Pay Later. "The PayPal Pay Later service gives Overstock.com customers a credit account with flexible financing options - even if a buyer doesn't have a PayPal account. As part of the introductory financing promotion, customers can defer payments on purchases for 90 days, allowing consumers to buy what they really want on Overstock.com and plan their payments in a way that best fits their budgets." READ MORE »

Chockstone and RBS Lynk have announced a strategic partnership to provide loyalty services to RBS Lynk restaurant merchants. According to the two companies, "Chockstone's unique loyalty platform helps further differentiate RBS Lynk's product offering for restaurant operators, demonstrating RBS Lynk's commitment to offering unrivaled products and service for its restaurant customer locations." READ MORE »

American Express has announced that it has reached an agreement with MasterCard Inc. to drop a lawsuit alleging that MasterCard had illegally blocked American Express from the bank-issued card business in the United States.

"Under the terms of the agreement, MasterCard will pay American Express up to $1.8 billion. This follows an earlier agreement with Visa to settle similar claims for up to $2.25 billion. Subject to certain performance criteria, American Express would receive more than $4 billion for agreeing to drop its claims against the two credit card networks. The combined antitrust settlement is the largest in U.S. history."

American Express and Visa had announced a settlement earlier - on November 7, 2007. READ MORE »

Cellfire, a nationwide mobile coupon and discount offer service, has introduced Cellfire 3.0, enabling consumers to "mobilize offers they discover in traditional and interactive media" and other new features. READ MORE »

Wirecard and Experian have announced "a strategic alliance to create a unique product to provide risk management support to the rapidly growing European Internet payment market. The new product, hosted by Wirecard, gives clients access to sophisticated analytics, modelling and simulation technology at the point at which they make decisions on their customers. Fully integrated into Wirecard’s payment platform, the new service will help clients to increase the speed and quality of their decision-making during order acceptance and reduce their exposure to Internet fraud." READ MORE »

• Barron's Investors Soapbox: Fifth Third Bancorp May Sell Some Assets
• Wired: Google's Open Source Android Phone Will Free the Wireless Web
• Shanghai Daily: Number of China's credit card holders doubles in quarter
• New Aite Group Report: Mobile Marketing: Reach Out and Touch Someone
• Majority of Identity Theft Victims Contact Their Financial Services Company Upon Learning of Crime, ITAC Survey Shows
• ACH Compliance an Issue According to Laru Corporation Study
• Information Week's Security blog: Target’s (The Retailer) Swipe At Privacy
• Larry E. Rosenberger Joins Global Analytics Board of Directors
• New York Times (Eric Dash): Citigroup Considers Repealing a Pledge, and the Slogan With It
• Business Week: Your Corporate Card Is Watching You
• MasterCard Settles Litigation With American Express; Will Take a Second Quarter After-Tax Charge of Approximately $1 Billion

We have received news of the following recent management changes:

• Carl D. Blandino has been named Chief Financial Officer at CashEdge. Previously, Blandino served as CFO of Open Solutions Inc.
• Eduardo Vergara has been named Global Commercial Card Executive at JPMorgan Treasury Services as Global Commercial Card Executive. Most recently, Vergara headed Global Product Management and Marketing for Global Commercial Card at American Express.