The Latest

The bank has agreed to acquire Big Data Healthcare, a Texan fintech that automates commercial payments flowing to and from hospitals and medical groups. It's the latest example of banks' deepening health care investments.

About 40% of smaller firms applied for private-sector financing last year, which was up from 25% in 2021, according to a survey by the Federal Reserve banks. The results suggest a return to pre-pandemic credit needs, but borrowers now have different plans for the use of financing.

The Consumer Financial Protection Bureau issued a new report on junk fees and CFPB Director Rohit Chopra spoke at a White House virtual meeting encouraging states to tackle the proliferation of junk fees through legislation.

During his second day of congressional testimony this week, the Federal Reserve chair faced several questions about the Consumer Financial Protection Bureau's embattled funding mechanism.

True Digital and TechPassport help banks assess and monitor fintech vendors and partners.

The new offering will allow consumers to finance purchases of gear, parts, maintenance and fuel for ATVs, boats and motorcycles. The powersports sector has enjoyed strong growth since the early days of the pandemic.

PayPal said Chief Financial Officer Blake Jorgensen will step down following a leave of absence for health reasons, amid a shuffle of upper management at the online-payments platform.

This week's global news roundup includes Apple Pay securing a lingering holdout; a CBDC project that targets FX rates, and more.

The San Francisco fintech made its name in refinancing student loans. Now it contends that a moratorium for federal student debt payments — put in place near the start of the pandemic — has cost it at least $150 million in profits.

Walmart sees great opportunities for its PhonePe unit, particularly in how it can boost Cashi, which the retail giant operates in Mexico.