Starbucks' mobile payment app that allows customers to preload their smart devices with money--in effect, stripping processing-fee revenue from financial institutions--continues to expand. The Starbucks app now allows customers to pre-order drinks and other products from their smart devices and have them waiting for customers at the counter when they arrive.
The House voted Thursday in favor of an appropriations bill that contains several major victories for credit unions. It does not place NCUA under the appropriations process, and makes significant changes to the CFPB.
The House approved by voice vote Wednesday an amendment removing language placing NCUA under the appropriations process from H.R. 3354, a major victory for CUNA, leagues and credit unions who advocated strongly in support of the amendment.