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PURCHASE, N.Y.—Mastercard has introduced Cross-Border Services Express, a new tool the company says enables financial institutions to set up international payments for their customers, including consumers and small and medium-sized enterprises (SMEs).

WASHINGTON—CUNA has sent a pair of letters to Capitol Hill, the first in advance of a hearing today, the second in response to an earlier attack by a bankers’ group.

RALEIGH, N.C.–A new effort to overhaul North Carolina’s 50-year-old credit union statutes “promises a high-stakes, big-money fight between traditional banks and credit unions looking to expand,” according to a new report.

RALEIGH, N.C.–Rose Connor, administrator of North Carolina’s Credit Union Division, has announced plans to retire on July 1.

CUPERTINO, Calif.–Consumers can now turn to their iPhones for a high-yield savings account. Apple has announced that holders of its Apple Card can open an account with a 4.15% APY as the company jumps into the increasing competition around high-yielding savings products.

NEW YORK–The gap between the fed funds rate and the average rate being paid on deposits by financial institutions is at one of its widest points in history, according to a new analysis.

CLEVELAND–While most officials with the Federal Reserve are focused on longer-run inflation expectations data to divine future price pressures, a new report from the Cleveland Fed said shorter-run expectations may be the more important factor to watch right now.

BOSTON–Turmoil in the banking industry may not yet be over, according to Fidelity Investments, which said the Fed is in a “twilight zone” where it can't tame inflation without hurting financial stability.

WASHINGTON— Concerns over the CFPB’s “efforts to demonize commonsense incentives that promote financial responsibility” have been expressed by Republican members of the Senate Banking Committee in a letter to the Director Rohit Chopra.