The Latest

Apple Inc. is working on a new service that will let consumers pay for any Apple Pay purchase in installments over time, rivaling the buy now/pay later offerings popularized by services from Affirm Holdings Inc. and PayPal Holdings Inc.

Hafize Gaye Erkan, the San Francisco bank's president, will share the chief executive role with longtime leader James Herbert, whose contract was extended through 2022.

The two payment providers are teaming up to support real-time payments for contractors globally. The move is designed to capitalize on Marqeta's recent initial public offering.

Stephen Calk, the former CEO of Federal Savings Bank, wanted to be former President Donald Trump’s Treasury secretary, defense secretary or a top ambassador and approved loans to Trump ally Paul Manafort with that goal in mind, prosecutors said.

Acquiring the city’s largest bank would give Pittsburgh-based FNB the No. 6 market share in Maryland's largest city.

Citigroup will let retail customers bet on stocks without paying fees as the bank tries to expand its wealth business in the face of fierce competition from Silicon Valley ventures, discount brokerages and big-banking peers.

PNC, Regions and TD are among the banks that have taken steps to reduce their reliance on charges that disproportionately hit consumers living paycheck to paycheck. The changes come at a time when the Biden administration is expected to take a tougher stance on overdrafts.

JPMorgan Chase’s investment bankers posted their best quarter ever as a record first half in dealmaking bolstered the bottom line at the nation’s largest bank. But expenses climbed in the second quarter and loan growth remained out of reach.

The card network and telco are designing systems that use 5G to support more payment processes hosted in the cloud rather than on local hardware. The goal is to make services such as autonomous checkout available to small businesses.

Bankers insist borrowing will pick up on the back of a post-pandemic economic recovery. But so far there are few signs of a rebound, and analysts are skeptical one is imminent.