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The payment company is enabling consumers to stack multiple cash-back offers as a way to lure consumers to its alternative digital wallet.

Federal Reserve Gov. Christopher Waller said the central bank should lower its target interest rate now and execute a series of cuts in months ahead.

The Minneapolis-based banking giant is enjoying its biggest year ever for 7(a) lending, with volume up 40%, as borrowers "are still coming to us," its SBA chief said.

Federal Reserve Bank of New York President John Williams said he's seen enough data to be comfortable with a rate cut at the Federal Open Market Committee meeting later this month.

The Consumer Financial Protection Bureau is seeking to protect borrowers from unscrupulous loan servicers. The goal is laudable, but the agency's methods are misguided.

The central bank has been under pressure to modernize its last-resort lending operation since the failure of three large regional banks last year.

The Consumer Financial Protection Bureau said some non-profit hospitals are failing to provide assistance to low-income consumers, while landlords may be illegally charging fees to pay rent through online portals.

Since launching in summer 2023, the government-backed instant settlement network has attracted hundreds of financial institutions, but there is still room for growth.

Net income climbed more than 11% from the first quarter, even as banks set aside more money for possible bad credit and wrestled with deteriorating office markets.

The card brands and tech giants are expanding their payments reach in one of the world's largest markets, while facing a multi-billion-dollar class action complaint by British businesses over fees. That and more in American Banker's weekly global roundup.

The Canadian bank expects to spend more than $3 billion on U.S. regulatory penalties in connection with its anti-money-laundering problems. "It's easy in a bank of our size to sometimes not look at accountabilities as clearly as we should," CEO Bharat Masrani said.

The Federal Reserve Bank of Atlanta president said the two mandates are in balance for the first time since 2021, although he is "not quite prepared" to declare victory over inflation.

The Federal Reserve fined a Montana bank for violating the National Flood Insurance Act and issued a cease-and-desist order against a Dallas bank over money-laundering concerns.

Recent Supreme Court decisions reducing the ability of regulatory agencies to interpret the meaning of federal laws make it likely that supervisory decisions based on assessments of banks' safety and soundness will face court challenges.

The combined bank would have $150 million in assets, and would offer better service and more convenience, according to Pulaski Savings Bank and Mutual Federal Bank.

Acting Comptroller of the Currency Michael Hsu called for a more risk-based approach to supervision to prioritize pressing issues and improve agility in monitoring large banks.

People filmed themselves depositing bad checks, then quickly transferring or withdrawing the funds. Then they shared screenshots of their negative balances.

Fines levied by the Wall Street regulator have dwindled in recent years.

It's unclear what will happen when the Fed starts cutting interest rates, but community banks will be there to support their customers no matter what the economy looks like.

The FDIC board chose to have another federal agency handle investigations of senior leaders based on allegations unearthed in an independent review published this spring. The move is aimed at ensuring accountability but was criticized for potential delays.