Organization Root Tag

The initiative is the latest offshoot of Project REACh, which was developed by the OCC over the summer to bring together bankers, community leaders and civil rights organizers in an attempt to expand access to credit.

The banks will aim to attract new small-business customers by targeting the merchants that use Stripe's payment processing platform.

The economic fallout from COVID-19 has highlighted systemic concerns about commercial real estate exposure, business debt and short-term wholesale funding, the Financial Stability Oversight Council said in an annual report.

A number of reasonable changes to the National Credit Union Share Insurance Fund could help NCUA avoid charging premiums.

As Congress moves to spur more coin production, banks and retailers are running campaigns urging consumers to empty their piggy banks to get more change into circulation.

Stripe’s technology, which enables millions of merchants to easily accept payments online, also provides a window into the broader money-management pain points of the businesses it serves — and it is through this window that Stripe sees a path for growth.

Senators voted 48-47 to put Christopher Waller on the Federal Reserve Board, concluding a confirmation process that had been dragged out for months because of controversy surrounding a separate nomination for Judy Shelton.

Less than two months after launching a software-based model to replace traditional point of sale terminals, MagicCube has received a security compliance allowance from Visa for the mobile-driven system.

Mastercard Inc. promoted Linda Kirkpatrick to president of North American operations as incoming Chief Executive Officer Michael Miebach shuffles some of his top managers before taking the reins next month.

The U.K. banking giant is reportedly mulling an exit from retail banking in the United States. It could attract more interest if it tries to sell its network in pieces instead of looking for a single buyer, analysts say.

Retailers and merchant acquirers need to adjust to new media in the new year, says Zycada's James Brear.

Visa insists that the Department of Justice, in objecting to its proposed $5.3 billion purchase of Plaid, fundamentally misunderstands the changing role of data in the payments industry.

President-elect Joe Biden will likely have to contend with a Republican-controlled Senate. That could have important implications for his approach to financial services policy.

Board member Todd Harper was concerned that the credit union regulator was not adequately preparing for the impact of prolonged economic turmoil and could be caught "flat-footed" as it was heading into the last crisis.

The Georgia lender has hired bankers away from Wells Fargo to build a new ag lending team that will look to capitalize on soaring lumber demand in its home state.

Following their disagreement about emergency funds mandated by the last big relief package, the Treasury secretary and Fed chief urged House lawmakers to pass another stimulus bill by the end of the year.

Investors are flocking to point of sale credit firms, which have emerged as a popular option during a time of economic stress. And market dynamics suggest more upside even as traditional payment competitors enter the fray.

EBay has hired Discover’s top U.S. cards executive, Julie Loger, for the newly created position of global chief growth officer.

The confirmation ensures Republicans will hold the majority vote at the credit union regulator until at least 2023.

Vice Chairman of Supervision Randal Quarles said the agency wants to figure out why banks are holding on to capital that could be used more aggressively to respond to the pandemic.