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Ally and Huntington are the latest banks to take steps that will reduce revenue from customers who spend money they don’t have. The moves come at a time when technological, regulatory and social forces are converging to encourage change.

The pace of the U.S. recovery picked up somewhat in the past two months, sparking price pressures as businesses contended with worker scarcity and rising costs, the Federal Reserve said.

The acting comptroller of the currency, appointed by the Biden administration, signaled that the regulation meant to provide legal clarity about the secondary market is safe for the time being.

Scams in which a real person’s information is used to create fictitious businesses or individuals have led to $6 billion in credit losses. The Federal Reserve has developed a standard definition for synthetic identity fraud so lenders can distinguish it from traditional identity theft.

The regional bank wanted to make more timely and relevant offers to its customers, especially in the realm of online and mobile banking. It worked with several vendors on a system to analyze customers’ activity and push out personalized recommendations.

Rising inflation could lead to a rate hike, bolstering lenders' profits in 2022. Improved credit quality and an economic rebound are also fueling investment in the sector.

The EMV specifications technology body has revised its requirements to ensure a consistent payment experience for cards, smartphones and wearables.

Allied Payment Network is linking to the digital banking platform of Tyfone for community banks and small businesses.

The online bank's decision to stop charging the fees is part of a broader reassessment across the industry. Ally had waived overdraft fees early in the pandemic and has historically been less reliant on them than many other institutions.

Users of the Goldman Sachs-issued card found themselves unable to make payments or view account details.