This week will most assuredly be centered around a new threat to President Obama’s health care law. A new bill passed by the House would pull away funding from the Patient Protection and Affordable Care Act but help to avoid a government shutdown when the nation reaches its borrowing limit.
- Capital One has dropped support for Isis, the mobile wallet venture that is backed by the three largest U.S. mobile carriers — AT&T Wireless, T-Mobile and Verizon Wireless. The move could spell bad news for the mobile wallet, which is slated for nationwide launch later this year. American Express, Chase and Discover remain partners of Isis.
- Consumers are more focused on paying off their mortgages than their credit cards, according to a new report by TransUnion, one of the three major U.S. credit bureaus. The company looked at 30-day delinquency rates on various types of loans and found that borrowers are less likely to miss a payment on their mortgages than credit cards. However, borrowers are prioritizing auto loans before mortgages and credit cards.
- On Tuesday, Ally Bank will enforce a security policy that requires all customers to set up two-factor authentication. When customers attempt to log in to their online accounts from an unrecognized device, customers must provide a one-time security code that is sent through email or text message.
- Major focus is placed this week on a threat to President Obama’s health care reform law by a new Republican-backed bill. On Friday, the House passed a spending bill that would detract funds from the budget required for the health care law. The bill is meant to complement a separate legislation that would stave off a government shutdown.
- On Thursday, some PerkStreet accounts (those with deposits held at Provident Bank) will be closed. Customers should have transferred their funds and rerouted their automated bill payments and fund transfers. While PerkStreet was not able to pay out cash back that customers earned, Provident Bank honored the cash back balances of customer accounts held in the bank.