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American Express has spent years refining a decision-making engine that can tailor products and services to cardholders' needs in real time.

Acting Comptroller of the Currency Brian Brooks pushed back on a recommendation from a task force — appointed by Consumer Financial Protection Bureau — suggesting that Congress should give the CFPB the authority to charter and regulate fintechs.

The Office of the Comptroller of the Currency’s proposal to ensure banking services are available to polarizing businesses contradicts long-standing guidance on managing reputational risk, big banks argue. But gun makers, energy firms and others say it would correct an injustice.

The Internal Revenue Service will allow businesses that got their Paycheck Protection Program loans forgiven to write off expenses paid for with that money, shifting policy after Congress passed new legislation last month.

With people shopping online more than ever before, and a new group of consumers joining the online retail space, it’s become increasingly important for brands to connect their sales channels and embrace e-commerce, says Hatch founder and CEO Joris Kroese.

The North Carolina regional has sold an advisory business and has found buyers for two 401(k) bookkeeping operations.

CO Federal Credit Union, which has $4.5 million in assets and serves just 785 members, was conserved due to unsafe and unsound practices, the regulator said.

A panel appointed by the Consumer Financial Protection Bureau said Congress should consider authorizing the bureau — and not the Office of the Comptroller of the Currency — to issue federal charters to fintech companies.

The Office of the Comptroller of the Currency terminated a 2015 consent order that required the bank to improve its controls for combating money laundering.

Seven states and the District of Columbia want to invalidate a new federal rule that threatens to hinder states’ power to cap interest rates on consumer loans.

Several government agencies have made deeper moves into crypto oversight, leaving a trail of angry executives and unresolved political questions. And there's still no sign of a central bank digital currency, leaving the U.S. at risk of falling behind other countries in the race to support faster payment processing.

The digital currency and related distributed-ledger technologies could "enhance the efficiency, effectiveness and stability of the provision of payments," according to an interpretive letter issued by the Office of the Comptroller of the Currency.

The CFPB issued two rulemakings in 2020 that the financial services industry and consumer advocates hoped would finally clarify key issues over how collectors contact debtors and deal with legacy debts. But both sides want the incoming Biden administration to make further changes.

The trade group is the latest to call for financial services workers to be moved closer to the front of the line as COVID-19 vaccinations are distributed.

2020 has shown that the payment industry is flexible and resilient, and if 2021 throws our plans out the window, we'd better be equipped to adapt on the fly, says IDEMIA's Megan Heinze.

American Express will once again add perks to its popular Platinum cards to avoid losing customers as the pandemic continues to curtail spending on the firm’s cards.

JPMorgan Chase is seeking to establish another Chinese joint venture in wealth management as the nation's financial opening has spurred a rush by global banks to capture a piece of a market that is estimated to grow to as much as $30 trillion in 2023.

The year — and the coronavirus pandemic — caused a dramatic shift in attitude. Many consumers and merchants now saw contactless cards and mobile payments as a way to move ahead without the germ fears that come with touching cash and PIN pads. And even after those fears subsided, the new habits stuck around.

The pandemic may have served as a catalyst for rapid growth in contactless payments through wearable devices. It’s the combination of form and function, however, that will push wearable payments into further growth in 2021 and beyond, says Zeta's Bhavin Turakhia.

The panel unanimously approved the measure by a notation vote, its second such move in weeks, and the proposal will now be subject to a comment period.