The Latest

We have been clear from the start that the date fixed by the card networks for liability shift was far too aggressive and essentially resulted in a Christmas present to card issuers.

A relatively new concept in the U.S., social payments are even newer in the U.K., where Circle hopes a collaboration with Barclays and a dash of blockchain will interest consumers in sending payments the same way the send tweets and texts.

Associated Banc-Corp in Green Bay, Wis., reported first-quarter net income of $40 million Thursday, an 11% drop from the same period in 2015. In doing so the $28 billion-asset company joined the lengthening list of banks whose bottom lines fell victim to ongoing tumult in the energy market.

Western Alliance Bancorp. in Phoenix reported higher first-quarter profit as its remains a busy dealmaker.

American Express is determined to minimize the damage from losing profitable Costco cardholders in Canada and the U.S., and is taking steps to keep as many of those customers in the Amex fold as possible.

Rep. Randy Neugebauer introduced a bill Thursday that is designed to reverse some of the negative effects of legislation enacted last year that cut the dividend the Fed pays larger banks. His bill would allow banks to redeploy capital held at the Fed.

Some are looking at buying banks or counting on recently announced acquisitions to diversify revenue streams. Others are investing in fee-based businesses and new technologies and all, of course, are trying to keep a lid on expenses.

The Consumer Financial Protection Bureau is expected to finalize its second round of mortgage servicing rules in July, a top agency official said. Laurie Maggiano, a program manager for servicing and secondary markets at the CFPB, also offered insights into the bureau's long-anticipated rulemaking on debt collection.

Visa Inc., the world's largest payments network, posted fiscal second-quarter profit that beat analysts' estimates as customer card spending increased. The company also said it revised the terms of a deal to buy Visa Europe Ltd.

Elevations Credit Union, Boulder, Colo., on Thursday said it has agreed to be an employee banking services partner for the City of Boulder, with the city offering access to Elevations' financial services as an employee benefit.