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Tag Archives: Federal Reserve Board of Governors

Cadence hikes its prime rate after Fed action

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Responding to the Federal Reserve raising its benchmark interest rate, Cadence Bank will increase its prime rate from 3.25 percent to 3.50 percent, effective Friday. The Houston-based privately held bank formally headquarterd in Starkville said its rate hike followed the Fed  Board of Governor’s unanimous approval of an increase between 0.25 percent and 0.50 percent, an increase from near zero. ...

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Retailers win big as court declares 21-cent swipe fee cap too high

The Federal Reserve’s Board of Governors erred in letting swipe fees that banks charge retailers for each debit card transaction go as high as 21 cents a transaction, a federal court ruled Wednesday. The ruling by the U.S. District Court in Washington drew the predicable applause from groups such as the National Retail Federation and scorn from the likes of ...

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