Banking technology event will take place on 14th September

The US Securities and Exchange Commission (SEC) will host a technology roundtable next month to discuss ways to promote stability in markets that rely on highly automated systems.

Spending in the UK with Visa cards totalled £7.4 billion

Despite reports that Brits weren't spending money because they were too busy watching the Olympics on TV - or were avoiding the capital over travel congestion fears - spending on Visa cards rose.

Visa and MasterCard agreed among themselves to lift restrictions with retailers

Visa, MasterCard, and a coalition of member banks signed a memorandum of understanding to end a seven year legal battle over credit card processing fees. The defendants will pay $6.6 billion to settle the case with retailers who claim the payment platforms and their affiliated banks used anti-competitive tactics when setting swipe fees.

For buyers reduced Mortgage closing spending

Federal regulations are helping to significantly reduce the amount new homebuyers are paying come closing time.

The average cost of closing on a mortgage has fallen by 7.4% over the past year, according to a recent survey by Bankrate.com. At the end of June, a homebuyer looking to close on a $200,000 mortgage with 20% down paid an average of $3,754, $300 less than 12 months earlier.

“Zombie” businesses in UK

Around 146,000 firms across the UK have been classified as “zombie” businesses by insolvency trade body, R3. The term applies to businesses that are only able to pay the interest on their debts, but not reduce the debt itself.