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Credit card interest rates are expected to reach a four-decade high this year, a positive for lenders poised to benefit from the increased income while painful for consumers facing escalated borrowing costs.

The Office of Financial Research proposed a rule that would give it greater transparency into non-centrally cleared bilateral repurchase agreement transactions.

The rise of legalized online sports betting has pushed the payments industry to create some of its stiffest defenses against scams.

Former Celsius Network Chief Executive Alex Mashinsky, whose once highflying crypto lender went bankrupt last year, was sued for fraud by the New York attorney general — the latest fallout from turmoil in the industry.

JPMorgan Chase Bank NA will have to face a lawsuit by a unit of the French maker of Ray-Ban glasses that claims the bank ignored suspicious transactions as cybercriminals drained $272 million from its New York bank account.

The top five have over five billion dollars in total loans and leases as of June 30, 2022.

John Deese stepped down as president and CEO of the West Palm Beach credit union, effective Dec. 31.

Federal Reserve Bank of Kansas City President Esther George said the central bank should raise its benchmark interest rate above 5% and hold it there well into 2024 to bring inflation down.

The California bank, which owns the technology underlying the Diem stablecoin from Meta, said its deposits plunged 68% in the fourth quarter but that it has more than enough cash on hand to weather the storm.

Rising interest rates and the potential for weakening economic activity could result in moderating loan demand in the new year. Some bankers are already being more selective in their lending.