Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes the latest on how Visa views cryptocurrencies, and Expedia’s fresh plan to take on Airbnb. Moody’s has news about the charge-off climate, chocolate is getting more expensive and the OCC’s bank charter plan faces more trouble.
Visa Doesn’t View Cryptocurrency As a Business Threat
CEO Al Kelly said there has to be a market where cryptocurrency becomes “somewhat like a fiat currency in order for us to be comfortable.”
Expedia Takes on Airbnb With ApartmentJet, Pillow Acquisitions
The startups let owners of apartment buildings control short-term rentals. Expedia Group Chief Executive Mark Okerstrom said the startups provide managers and owners of buildings with “control and transparency” when it comes to short-term rentals.
Moody’s Sees Improving Charge-Off Climate
Moody’s said in its latest reading of the “pulse of the consumer” that in viewing the charge-off rate, growth had slowed among the largest U.S. banks to 10 basis points in the third quarter.
Hershey Raises Chocolate Prices to Offset Costs
Higher freight prices boosted Hershey’s cost in the third quarter, and the issue will most likely persist into 2019, Chief Executive Michele Buck said.
State Bank Regs File Suit to Block OCC’s Bank Charter
More legal troubles have emerged for the Office of the Comptroller of the Currency (OCC) over its plan to introduce national bank charters for FinTechs, aimed at making it easier for alternative financial services players to do business.
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