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A partnership with the business payment technology firm Melio supports card payments even when one party is stuck in the world of paper checks and cash.

Bank of America officials say the boost to loan income from rising rates combined with its overhaul of its loan book since the financial crisis will help it weather any potential economic challenges ahead. Analysts had a lot of questions about the bank’s reasoning.

In a quarter filled with economic and geopolitical uncertainty, the New York investment firm’s digital consumer bank achieved record-high revenues. Executives have said they plan to drive up revenues in that segment to $4 billion by 2024.

Investors have grown concerned that 40-year highs in inflation may take a bite out of consumers and lead to credit troubles, but Synchrony executives say consumers are continuing to manage “incredibly well.”

Apple was accused by Affinity Credit Union of using its market power in the mobile device industry to fend off competition from other payment card issuers and charging them fees to boost its bottom line.

The comments from the agency's under secretary for domestic finance came as it issued a request for feedback on the risks and opportunities of digital assets.

Goldman Sachs Group, Morgan Stanley, JPMorgan Chase and Citigroup each reported a substantially larger workforce in the second quarter compared with a year earlier. Across the six biggest U.S. banks, the average gain in employment was 5.5% compared with mid-2021.

Octane Lending is among the financial companies that have begun adopting software that the startup FairPlay calls "fairness as a service" as regulators scrutinize banks' artificial intelligence-based loan decisions.

Goldman Sachs Group plans to slow hiring and reinstate annual performance reviews as the Wall Street bank looks to rein in expenses.

The combined institution would have more than $4 billion of assets and 36 branches across Oregon and Washington.