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- The Consumer Financial Protection Bureau has sent a letter to the chief executives of JP Morgan Chase, Citibank, Bank of America, Capital One, Discover, and American Express asking them to explain the practice of omitting data about consumers’ monthly credit card payments when sending information to credit-reporting companies. The CFPB contends the omission can harm consumers’ ability to secure credit. Only about half of the country’s biggest credit card companies report this information, the agency contends.
- Jack Dorsey has left the Twitter board of directors, ending his official ties with the social media platform, reported TechCrunch.com. Dorsey, who remains chief executive of Block Inc., exited the Twitter CEO position in November.
- Some 50 million U.S. adults, or 27% of the U.S. adult population, are investors in cryptocurrency as of March, up 5% from the fourth quarter of 2021, according to The Cryptoverse US Report from KuCoin, a cryptocurrency exchange.
- Prepaid card platform Blackhawk Network said physical and digital gift cards for New Seasons Market and New Leaf Community Markets are now available on the grocers’ respective Web sites.
- Payments provider Quisitive Technology Solutions Inc. said its first-quarter revenue increased 256% year-over-year to $44.9 million as volume for the period exceeded $1 billion.
- Cryptocurrency platform Wyre has launched SmartRamps, a utility aimed at making it easier for users to buy non-fungible tokens and other blockchain-based digital media with a credit card.
- POSaBIT Systems Corp., a specialist in the cannabis payments industry, named Julie Solomon its chief revenue officer. Solomon most recently was chief revenue officer at Synctera, a fintech banking provider.
- Credit-reporting agency TransUnion released its “Evolution of the Maturing POS/BNPL Consumer” report.
- The ATM Industry Association renamed its ATMIA Lifetime Achievement Award to the Michael Lee Lifetime Achievement Award. Lee is the association’s chief executive and joined the ATMIA in 2000.
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