Australia's banks are pushing harder than ever against Apple.
The banks have submitted a formal statement to the Australian Competition and Consumer Commission slamming Apple's security-based argument against collective negotiations to access Apple Pay, according to reports. Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank and Bendigo and Adelaide Bank, accused Apple of trying to piggyback on their investment in a national contactless infrastructure, while remaining "intransigent, closed and controlling" in dictating terms for Apple Pay.
Apple faces a lot of pressure to win this battle in Australia, since other large markets such the U.S. could force similar concessions if the Australian banks get their way. When Apple Pay launched in the U.S. in 2014, banks that signed on expressed concern over its restrictions and pricing.
Elevations Credit Union is paying athletes at the University of Colorado Boulder by way of a new credit card. The annual fee, plus two cents per transaction, will go to a collective that provides financial support to Buffaloes players.
The North Dakota governor's real estate background and affordable housing policies fit with the president-elect's plan to open up federal lands for new home construction.
Nicholas Takahashi and his team are accused of deliberately trying to poach the clients of a former colleague managing hundreds of millions in assets and producing more than $1 million a year in revenue.
The number of banks announcing plans to sell this year reached 108 by the end of Oct.; Truist Financial promoted Brad Bender to chief risk officer; Old Point Financial made Cathy W. Liles its chief financial officer; and more in this week's banking news roundup.