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Seven years after regulators issued guidance to financial institutions, a small Michigan credit union was ordered to stop opening new accounts for marijuana businesses.

The company is still searching for someone to fill the roll on a full-time basis, but the $600,000 annual salary cap may limit the candidate pool.

Citigroup’s dealmakers have been keeping busy with family offices looking to get in on the blank-check frenzy. Now the lender wants to bring its private bank a piece of the action.

Mastercard and Visa's one-year delay is only a partial victory for retailers, who want the networks to have less power to set rates.

Banks have borne the brunt of the criticism from consumers still waiting for coronavirus relief funds to land in their accounts. But the industry says the lag time is the fault of the government and its antiquated payments system

The proposed legislation is similar to a package put forward in 2020 and another introduced in the House in 2019.

After postponing enforcement for years, the card brands are implementing an EMV liability shift at fuel stations, which still struggle to make the upgrades necessary for chip-card acceptance.

As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone involved, including data aggregators and fintechs.

Government relief programs and lenders’ forbearance have kept U.S. small businesses from defaulting on their debt en masse as revenue slumped during the pandemic crisis, according to a new analysis.

Michael Moeser, senior analyst at PaymentsSource, talks to Nikki Darden, head of global marketing integration at Citigroup; and Cheryl Guerin, executive vice president of North America marketing and communications at Mastercard, about the True Name feature on their cards.