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Bank of America’s consumer clients made $294 billion of total payments last month, up 16% from a year earlier, as the U.S. economy continued its recovery from the coronavirus pandemic.
March 8
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American Express said more than 40% of its U.S. employees have opted to work remotely on a full-time basis, double the number from before the pandemic.
March 8
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As Visa and Mastercard move swiftly to limit their business in Russia, their nascent rivals face a challenge to fill the gap.
March 8
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Numerous unaccredited and loosely regulated schools are offering buy now/pay later products as a payment option for students, according to the Student Borrower Protection Center. Its report, which called out PayPal, Klarna, Affirm and Afterpay, comes as the CFPB is considering how to regulate the sector.
March 7
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The mortgage interest deduction is capped, but the investment interest expense deduction isn’t.
March 7
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Mary McNiff, who has been in the job since 2020, will step into a new, unspecified role later this year. CEO Jane Fraser, who is dealing with the aftermath of two consent orders, has said that updates to the company’s risk management systems are her top priority.
March 7
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U.S. payment giants like Visa, Mastercard, American Express and PayPal — along with smaller companies like Paysera in Lithuania — have blocked transactions or pulled out of Russia and Belarus in response to the invasion of Ukraine.
March 7
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Bank of Montreal laid out a plan to sharply reduce emissions connected to loans to the energy and power-generation sectors by 2030 as its aims for a longer-term goal of being net zero.
March 7
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President Biden is set to sign an executive order this week that will outline the U.S. government’s strategy for cryptocurrencies, according to several people familiar with the administration’s plans.
March 7
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The cryptocurrency trading platform said it blocked wallet addresses related to Russian individuals or entities that it believes to be engaging in illicit activity.
March 7
