The Latest

Elba Arenas takes over from Jim Barbarich, who is planning to retire at the end of next year.

A snappy swipe-fee settlement, Synovus's new risk chief and more in banking news this week

The Consumer Financial Protection Bureau's review of credit card late fees has ignited pushback from industry that supports an expected 9% jump in fees next year pegged to inflation. 

Mark Burgess succeeded James Wileman as president and chief executive of the Anchorage-based credit union this month.

The Federal Reserve released its large bank requirements for 2023 based on the results from this year's stress test. Most of the banks tested will need to maintain or increase their tier one capital holdings.

Consumers should be aware that the FDIC does not protect their money if a fintech goes belly up.

Legal marijuana dispensaries typically can't accept regular payment cards. But after the pandemic drove broader adoption of online and in-app payments, consumers may finally be more willing to stop using cash when buying weed.

The agency acknowledged that loan performance in the sector has been strong, but cited several reasons to think that might change, including rising interest rates, the effects of inflation and uncertainty about the future of work and commerce.

Early Warning Services brought back its Authentify moniker for a new digital ID service. It's not being marketed as a way to stop P2P fraud, but it should appeal to banks wanting to improve security for online transactions.

The very upstarts that gave the prepaid card issuer a run for its money in recent years are seeing their valuations fall and their belts tighten. At the same time, Green Dot CEO Dan Henry expects that it can help consumers manage their cash flow amid economic stress.