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Citizens Financial Group has branded its point of sale lending software as Citizens Pay, saying it wants to more clearly define it as a merchant tool for "budget-friendly payment options" for customers who want a transparent and predictable way to finance purchases.

The Mint’s facilities in Denver and Philadelphia worked overtime in the second half of 2020 so that banks and retailers could get more change into customers’ hands.

The actions follow earlier announcements from Marriott International, Blue Cross Blue Shield and Commerce Bancshares, which said they are suspending financial support for all lawmakers who voted against certifying Joe Biden's election as president.

In a letter to credit unions, NCUA urged federally chartered shops to expand their fields of membership to underserved areas, regardless of geography, in order to boost financial inclusion in the wake of the pandemic.

The agency will once again tackle one of its most controversial subjects when it meets on Jan. 14 for an ambitious agenda on what could be Rodney Hood's final meeting as chairman.

Trade war bans on payment apps are pressuring large companies and providing opportunities for regional specialists, says Nets' Sirpa Nordlund.

The Swiss banking giant is expected to set aside $850 million for litigation costs stemming from a long-running dispute with bond issuer over the sale of mortgage-backed securities.

While instant payments and open banking have been gaining momentum across the globe, payments providers have established digitally backed services that not only facilitate seamless financial operations but also help generate revenue, says AFEX Americas' Christian Spaltenstein.

New guidance from the Consumer Financial Protection Bureau shows how companies that offer workers early access to their wages can avoid being regulated as lenders. But the incoming Biden administration could add new complications.

PayPal Holdings closed an account held by Joy In Liberty, one of the groups that paid for supporters of President Donald Trump to travel to Washington, where mobs stormed the U.S. Capitol on Wednesday.

In memos to their staffs, acting Comptroller of the Currency Brian Brooks and Consumer Financial Protection Bureau Director Kathy Kraninger denounced the violence perpetrated by President Trump's supporters and said both agencies remain in operation.

President-elect Joe Biden picked California official Isabel Casillas Guzman to lead the Small Business Administration, according to people familiar with the decision.

The Federal Reserve has returned about $42 billion to the U.S. Treasury, and will soon transfer another $20 billion in excess funds connected to emergency lending facilities that stopped offering new loans last month, it said Thursday.

Bank of America's chief operations and technology officer says even digital experts benefit from in-person collaboration. She wants her 95,000-person staff to return once it's safe.

The decision to shutter the digital bank comes just weeks after BBVA USA announced it was selling itself to PNC Financial Services Group for $11.6 billion.

American Express is reportedly under investigation by a top federal agency exploring allegations of unethical sales tactics by the company’s small-business credit card sales representatives.

Sen. Sherrod Brown of Ohio signaled a change in direction for the Banking Committee under Democratic control, on the same day he called for President Trump's ouster after the U.S. Capitol riot.

The deal between San Francisco-based lender and Social Capital Hedosophia Holdings Corp. V is latest example of a closely held firm going public by merging with a special purpose acquisition company.

Organizations that put the customer experience front of mind will be the winners, but they must nonetheless expect additional pressure from regulators, new competition, ever more digitally demanding consumers, and no slowdown in technological innovation, says Entersekt's Gerhard Oosthuizen.

Jack Ma’s Ant Group Co. is planning to restructure its consumer credit operations so the company can continue lending nationwide under new regulations that would otherwise threaten to dramatically restrict its most lucrative business, people familiar with the matter said.