The Consumer Financial Protection Bureau in an advisory opinion said that "covered" earned wage access products should not be considered an extension of credit under the Truth in Lending Act. It also said that expedited delivery fees and tips should not be considered finance charges.
Banks want and need to rival tech giants in their use of customer analytics. Some think artificial intelligence is the key to making it happen.
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Buy now/pay later firms launched new products and announced new operational strategies this week as they prepare for an expected increase in demand this holiday shopping season, while Revolut's CEO laid out plans for 2025.
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Micro-, small- and medium-sized businesses have traditionally been a tough nut to crack when it comes to serving up actionable insights. Payment data is helping to change that.
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The use cases are growing and banks don't want to risk being left behind, especially with younger customers who are more open to the technology.
Disruptors have chased banks for years with the promise of easier and more social payments and other services, but only recently have they started wielding a weapon that should have incumbents worried, says investor Adam Dell.
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It might seem unusual for an Old National Bancorp to lure away a regional executive from the much larger Fifth Third, but not in wealth management, where competitiveness can be as much about emphasis as size.
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Greenlight Financial Technology offers a card that enables parents to control where their kids spend money.
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Digital banking services should solve consumers' problems and offer them advice, and they must rely on artificial intelligence and other cutting-edge technology, bankers from TD, RBC and Bank of the West said.
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A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.
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A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.
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CUNA Mutual Group previously provided this service through a joint venture with PMI Mortgage Insurance but exited the business in 2014.
Jane Fraser, CEO of Citigroup, told analysts she's not going to sacrifice growth-related investments for short-term gains. "You shouldn't want me to do that," she said.
Senate Republicans plan to modify the massive fiscal package to lower maximum deductions for state and local taxes and limit the impact of a "revenge" tax.
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A new law will make Colorado a much more difficult place for cash-strapped citizens to get credit. Other states should avoid following in its footsteps.
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Before a spot bitcoin ETF is approved, we're going to need to see much more clarity about how applicants draw the line between custody and trading.
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Making it easier for consumers to switch between competing banks will increase competition, resulting in major benefits for account holders.
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A federal appeals court agreed to have the full bench rehear arguments by the Consumer Financial Protection Bureau's union about whether the Trump administration planned to gut the agency through mass firings.
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Daryl Byrd, who led Iberiabank until it was acquired by First Horizon, has assembled an investor group to acquire MC Bancshares and its subsidiary, MC Bank & Trust Co. in Morgan City, Louisiana. Byrd will become CEO.
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Nine banks and lenders were impacted by the yearslong, $923 million fraud enterprise, according to an indictment of top Tricolor executives. The banks were not publicly named, but JPMorganChase, Fifth Third, Barclays, Louisiana-based Origin Bancorp and Texas-based Triumph Financial have said they would take write-downs.
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The National Institute of Standards and Technology's preliminary draft helps banks integrate artificial intelligence into their existing security strategies.
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The regulator signed off on the transaction just two months after the banks applied to merge.
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The Department of Justice wants Federal Reserve Chair Jerome Powell to state if the central bank is profitable again and can, therefore, fund the Consumer Financial Protection Bureau.
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The payments fintech reported an $8 billion valuation as it aims to establish a second global headquarters in Silicon Valley and expand into Europe and the U.K.
A Consumer Financial Protection Bureau report on Pay in 4 buy now/pay later loans offered validation for an industry that has faced criticism for expanding into everyday spending, such as food delivery.
The 23rd annual ranking of women leaders in the banking industry.
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