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Fraser and Chief Financial Officer Mark Mason are under pressure to show that, after repeated attempts by predecessors to restore investors' faith in the New York-based company following the 2008 global financial crisis, this time will be different.

Like a ratchet, price controls in the payments industry move only one way, destroying value and reducing incentives for innovation.

The card networks are expanding their development of accelerators for women and minority-owned businesses, improving these entrepreneurs' access to venture capital.

Royal Bank of Canada hopes to save money by moving positions from high-cost California to Vancouver. The Toronto-based company is looking to cut costs as it seeks to bolster the earnings of its Los Angeles-based City National Bank subsidiary.

Republican lawmakers spelled out concerns that the Financial Stability Oversight Council's ability to designate nonbank financial companies as systemically important could circumvent the lawmaking process when it comes to cryptocurrency.

Citigroup recorded a $1.3 billion reserve build tied to its exposure in Argentina and Russia, it said in a filing.

The agency plans to restrict access to a system that provides borrower tax returns to mortgage lenders beginning June 30. Left out of the loop, small-business lenders say getting credit to borrowers will become more difficult as a result.

In comments submitted to the Consumer Financial Protection Bureau concerning its "large participant" rule governing Big Tech in payments, many commenters outlined procedural concerns, suggesting there may be grounds for litigation when the rule is finalized.

SEC Chairman Gary Gensler clarified Tuesday that a post on X from the official SEC account that the commission had approved bitcoin ETFs was the result of a hack. X said the SEC did not have multifactor authentication enabled on its account.

In addition to Ant's possible deal to buy MultiSafepay and Adyen's work with Straumur, Visa has partnered with TECH5 on government ID and Mastercard is expanding its virtual-card network through Rawbank.