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ISVs that optimize B2B payments within their software solutions stand to save the day for merchants who want to grow but feel hamstrung with their current solutions, Ashley Jones of Global Payments Integrated says.

The National Credit Union Administration placed the New Jersey credit union into conservatorship Monday, citing its "unsafe and unsound practices."

Sen. Pat Toomey of Pennsylvania, the top Republican on the Banking Committee, told three Federal Reserve regional presidents that a series of events tied to the impact of racism on the job market and housing systems is not within the scope of the central bank.

In addressing systemic risks posed by fluctuating cryptocurrency values, the Federal Reserve and other central banks must acknowledge that quantitative easing has driven up the price of digital assets.

Despite concerns about the scope of information that companies would have to provide about risks linked to climate change, some of the largest institutions are seeking to collaborate with the agency as it develops a framework for informing investors.

Citi Retail Services has renewed its longtime card-issuing relationship with Tennessee-based Tractor Supply Co., which saw record sales during the pandemic as consumers expanded their backyard menageries.

Apple's Chief Executive Officer Tim Cook said it would be “terrible” for iPhone and iPad users if a judge ordered the company to allow third-party app marketplaces, in addition to its own App Store, as Epic Games is demanding in a high-stakes antitrust battle.

Small businesses are upset at Visa and Mastercard's proposal to raise rates on cross-border payments initiated online, now that the European Commission's caps on credit and debit fees no longer apply in the U.K.

The Small Business Administration’s sluggish pace in forgiving the biggest Paycheck Protection Program loans is straining relations between banks and some borrowers.

While cryptocurrencies could have benefits, they have “not served as a convenient way to make payments, given, among other factors, their swings in value,” said the head of the Federal Reserve. He also detailed imminent Fed research on a central bank digital currency.

The National Credit Union Administration changed course late last year and proposed changes that would in effect give members more time to resolve overdrafts. However, consumer activists and even some credit unions say the proposal falls short.

The two companies are the first banks to sign on to a philanthropic initiative from the asset manager BlackRock. The aim is to test ideas that make it easier for more households to establish financial safety nets.

A Biden administration initiative to crack down on wealthy taxpayers hiding pass-through income would require financial institutions to send account flow data to the IRS.

Banking Committee Chair Sherrod Brown told acting Comptroller of the Currency Michael Hsu that the cryptocurrency firms approved to operate national trusts under prior agency leadership “seek access to the benefits of a bank charter” without meeting certain regulatory standards.

The bank is launching a business called Morgan Health aimed at improving employee benefits and promoting health equity, first for JPMorgan’s workers and then for other large companies.

Morgan Stanley Chief Executive James Gorman unveiled his biggest leadership shake-up in more than a decade, positioning a small group of lieutenants — and two in particular — as his most likely successors.

During a House Financial Services Committee hearing, Democrats largely praised the policy decisions of acting regulators named by the Biden administration and knocked their predecessors. But Republicans warned that moves to reverse Trump-era policies would leave financial institutions without a clear road map.

The $1 billion bond, which follows similar issuances by Citigroup, JPMorgan Chase, Bank of America and Truist Financial, gives a big role to broker-dealers owned by minorities, women and disabled veterans.

Mastercard will soon bring workers back to its New York City office at least two days a week.

Federal Reserve Vice Chair Randal Quarles has made it clear that banks failing to make the transition away from the benchmark rate could face supervisory consequences.