The Week in Review

The Week in Review

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.

https://www.bloomberg.com/news/articles/2018-08-28/google-partners-with-banks-to-launch-digital-lending-in-india

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.

https://www.reuters.com/article/us-usa-occ-banks/u-s-banking-regulator-kicks-off-rewrite-of-community-lending-rules-idUSKCN1LD26F

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.

https://www.prnewswire.com/news-releases/splitit-enables-multi-card-and-deferred-payments-to-expand-consumer-purchasing-options-817447312.html

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.

https://www.bloomberg.com/news/articles/2018-08-30/google-and-mastercard-cut-a-secret-ad-deal-to-track-retail-sales

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.

https://timesofindia.indiatimes.com/business/india-business/pm-modi-launches-india-post-payments-bank-things-to-know/articleshow/65634966.cms