Walmart-Backed Financial Technology Startup To Expand The fintech startup backed by the world’s second-largest retailer Walmart plans to purchase two firms and bring operations under one brand name: One. The new entity will build a financial services super app—a single place for consumers to manage their money. Walmart’s Sam’s Club is a DCA member. DCA Insight: Look for One to...

Bank of America Cuts Overdraft Fees  Bank of America will reduce overdraft fees from $35 to $10. The move by DCA member BOA was made to provide relief to customers least able to afford overdraft fees. BOA, the second-largest bank in the US, also announced it would eliminate nonsufficient-funds fees next month and transfer fees for overdraft protection in May....

Cryptocurrency Lenders To Check Credit Reports  Consumers are now able to provide blockchain companies access to their personal credit scores through the security firm Spring Labs. Specifically, DCA members TransUnion and VantageScore will provide scores to allow cryptocurrency investors to borrow based on their creditworthiness. DCA Insight: This move opens up new opportunities for consumers. The ability for lenders to...

Fintech Start-Up Plaid Enters Payments Space One year after an antitrust suit blocked Plaid’s sale to Visa, the company is announcing another move into the payments business. The company, which makes software that lets banks and other fintechs plug into their user’s financial accounts, with permission to validate balances and other details, won’t be involved in moving money as part...

Credit Cards and Crypto Come Together DCA member Mastercard and cryptocurrency company Bakkt Holdings Inc. have joined forces to allow consumers to make credit and debit card payments—and earn rewards—using bitcoin. DCA Insight: The partnership has significant potential: Big banks offering crypto cards powered by Bakkt, can potentially reach a large number of consumers. What remains to be seen is...