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The Department of Justice is seeking court approval to immediately fire more than 600 employees, slashing the CFPB's workforce by 53%.

Australia's national Payments Systems Board has decided to remove surcharges on prepaid, debit and credit cards for electronic funds transfers, while lowering the cap on interchange fees. Also, Wells Fargo is seeking banks for its international payment network, and more in American Banker's global payments and fintech roundup.

The exit highlights the steep challenges and high customer acquisition costs foreign fintechs face when entering the U.S. banking sector.

Federal Reserve Gov. Michael Barr said Wednesday that his dissents over the past year on proposed regulatory changes reflect concern that oversight of banks could be significantly weakened.

Federal Reserve Vice Chair Michelle Bowman said the Fed's proposed capital framework will inject up to $100 billion into the economy to support small-business loans.

House Financial Services Chairman French Hill is pushing regulatory relief for banks, reforming the Consumer Financial Protection Bureau and advocating a "whole-of-government" assault on fraud.

Recurring payments for stuff like streaming content can get lost in the shuffle, creating an opportunity for the big card brands.

New survey data finds little correlation between increased AI spending and layoffs in financial services. But many executives said they expect job cuts at their companies in the next 12 months.

A former federal housing regulator warns that U.S. banks are not engaging with the real and growing risks that climate change is creating in their existing mortgage portfolios. The consequences of inaction could be punishing.

Quantum computers are one dire threat for cryptos, but public disinterest is a bigger one.