Organization Root Tag

The acting comptroller pushed back against a key feature of Sen. Pat Toomey’s stablecoin proposal, and the idea that stablecoins could be regulated as money market funds

The Federal Reserve permanently banned a former Goldman Sachs Group managing director from the financial industry for improperly using and disclosing the regulator’s bank-supervision information.

Bank-issued prepaid benefits cards were supposed to help state governments deliver these funds more efficiently. But the pandemic scrambled the economics of these programs.

Senate Majority Leader Chuck Schumer took a procedural step before the Senate leaves for a two-week break seeking to limit debate on Lael Brainard’s nomination for vice chair, as well as Lisa Cook’s nomination for Fed governor when lawmakers return. 

The banks that own the peer-to-peer payment network are reportedly considering a retail launch that could fend off rival payment methods — or simply cannibalize the sizable revenue issuers get from credit and debit cards.

To increase its share of global card spending through gig-economy fintechs and startups, Amex is extending its rewards through a partnership with digital issuing vendor i2c.

JPMorgan Chase is planning to use its recently acquired stake in the Greek payments firm Viva Wallet to support lending to small businesses across Europe, an ambition that would introduce a rare cohesion to the Continent’s fragmented banking markets.

For anyone who wants a phony pay stub or doctored tax return, an easy source is just a click away.

Two Republican lawmakers are calling for the cancellation of U.S. government contracts with Citigroup after the banking giant vowed to cover travel costs for employees seeking abortions

The Federal Reserve Board barred the former Merrill Lynch and Regions Bank employees from the banking industry for life after securing relief loans and grants under false pretenses. The move comes amid a broader crackdown on stimulus fraud.

Senate Banking Chairman Sherrod Brown said he and Majority Leader Chuck Schumer are pushing to confirm all four Federal Reserve nominees this week, but doing so will require Republican cooperation.

Consumer advocates and fintechs say the traditional credit score and lending systems that use it are murky and perpetuate bias. FICO’s leader points out that new FICO scores use expanded data sets, just as fintechs do.

Mutual institutions, long pillars of underserved communities, now face insurmountable barriers to entry.

Visa is planning a raft of changes to rules for gas stations to allow larger transactions after a surge in fuel prices across the U.S. made it hard for some drivers to fill up using credit cards.

The renewal of the e-commerce giant's cobranded card cements an alliance between two giants of their industries — just as both companies are pushing ahead with products such as buy now/pay later loans that put pressure on traditional credit cards.

Esther George, president of the Federal Reserve Bank of Kansas City, says changes in the office sector and monetary policy pose potential risks to property owners and their lenders.

Apple is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter.

The Federal Deposit Insurance Corp. is the second U.S. regulator to outline strategic planning and other steps banks with more than $100 billion of assets can take to minimize damage from severe weather events and the transition to a low-carbon economy.

Citigroup agreed to sell its India retail banking business for about 123 billion rupees ($1.6 billion) cash to Axis Bank, as the U.S. lender seeks to consolidate its operations in identified markets.