The British banking giant HSBC Holdings PLC is considering a bid for the Internet bank Egg PLC, people familiar with the matter said.
Prudential PLC, the United Kingdom's biggest insurer by premiums, last week said it was in talks to sell its 79% stake in Egg, which is worth about $2.8 billion at current prices. Royal Bank of Scotland Group PLC and MBNA Corp. of Wilmington, Del., the world's second-biggest credit card issuer, are also said to be interested.
The bureau's Tuesday afternoon announcement follows an earlier statement that it would walk back a rule that places buy now/pay later loans under the Truth in Lending Act's Regulation Z, a move that will ease compliance for fintechs that offer installment loans.
Eliminating overdraft charges is Stearns Bank's latest move to limit fees that its customers pay. CEO Kelly Skalicky says deposit service fees aren't a good business model.
House Financial Services Committee ranking member Maxine Waters, D-Calif., blocked a planned joint hearing on a crypto market structure bill amid concerns about the Trump family's conflicts of interest in cryptocurrency.
The bank partnered with fraud prevention company Threat Fabric to create a taxonomy the companies hope will make it easier to communicate about fraud.
The pending acquisition is one of several large deals involving payment companies in recent years as legacy firms look for combinations that can counter newer fintech rivals.
