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July 11, 2011

Federal Reserve Releases Report on College Credit Card Agreements

FedThe Federal Reserve has released a report (PDF) that contains 2010 payment and account information about more than 1,000 agreements between institutions of higher education or affiliated organizations and credit card issuers, as well as an online database that includes the full text of each agreement that was in effect during 2010.

The report and the database is a result of The Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act) that requires issuers to submit to the Board annually their agreements with educational institutions or affiliated organizations, such as alumni associations. For each agreement, issuers are also required to submit information regarding payments made to the institution or organization and the number of accounts opened under the agreement.

First Data Expands Value for Merchants with New Product Enhancements

First data logo 140pxFirst Data Corporation has shared highlights from its Q2 2011 Product Release, which has been "enhanced with additions to its Information & Analytics Solutions, Prepaid Solutions and Payment Acceptance offerings for merchants."

Federal Reserve Reports Consumer Credit for May 2011

Fed The US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "consumer credit increased at an annual rate of 2.5% percent in May 2011. Revolving credit increased at an annual rate of 5%, and nonrevoling credit increased at an annual rate of 1.25%."

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