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Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to a valuation of more than $1 billion as it plans expansion into mortgages.

The Florida bank said it would pay $173 million to buy Drummond Banking, which operates 18 branches in the northern part of the state.

Lenders argue that they're taking steps to eliminate or rein in the consumer fees, but several Democratic senators say reform legislation could be a necessary step in the near future.

The Minneapolis company, which previously said it expected the $8 billion acquisition to close in the first half of 2022, has become less firm about that projection.

Tansley Stearns will succeed the organization's longtime chief executive Bill Lawton in June.

The card network is making new security tools part of its expansion into non-payment services, hoping it can combat fraud that comes from its own account holders.

Although the number of scam attempts is falling, especially in financial services, costs are up, data shows.

A new product called Financial Connections links businesses directly to customers' banks, giving the payment technology vendor a feature that makes it a direct competitor to data-fueled fintechs.

Klarna will begin reporting the use of buy now/pay later products to U.K. credit reference agencies, which could see the increasingly popular mode of financing impact users' credit ratings.

The Federal Reserve’s Federal Open Market Committee voted Wednesday to raise interest rates to between 0.75% and 1%, the largest single rate hike since 2000.