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The promise, made by the chief executive officers of 27 companies including JPMorgan Chase, Citigroup and Bank of America, is part of a new initiative called the New York Jobs CEO Council.

A report from the trade group, released Tuesday, follows a June resolution from its board of directors recognizing historic, systemic and institutional racism in the U.S.

It took years for NFC payments to gather momentum in the U.S., with merchants initially dragging their heels to enable contactless technology at payment terminals and banks waiting until 2018 to begin the slow rollout of NFC-enabled cards.

The agency sought feedback on potential changes to the Equal Credit Opportunity Act. But a coalition of industry and advocacy groups want a longer comment period to afford “a greater opportunity for thoughtful public participation.”

Visa Inc., the world’s largest payments network, is breaking ground by tapping the bond market to fund environmentally friendly projects.

The shift to electronic payments during the coronavirus has led to a notable increase in in-app debit card payments—particularly via Apple Pay—along with higher levels of direct debit and P2P debit card transfers.

Facing Wall Street analysts for the first time after the murder of George Floyd, CEOs of major payment companies joined other financial services firms in promising to improve fairness and opportunities for Black people and other underrepresented groups.

Trade groups are still pushing for the industry's priorities, such as temporarily lifting the member business lending cap, as negotiations over the next round of aid continue.

Under a rule issued in March, banks will build an additional capital cushion that is determined by their performance in the annual tests.

Facebook Inc. unveiled a new group to pursue payments and commerce opportunities and put David Marcus, co-creator of its Libra cryptocurrency project, in charge of the initiative.

The coronavirus has slammed merchants. For many, providing a better online experience by the holidays is their last chance, says Zycada’s James Brear.

Institutions large and small are either creating new positions or elevating existing diversity heads to C-suite roles. Will the moves help banks improve equality within their ranks and better serve their communities?

A year-old data breach, which earned the company an $80 million OCC penalty this week, continues to offer lessons to banks as they put more sensitive information in the hands of cloud vendors.

At its inaugural hearing, the committee appointed by lawmakers to oversee CARES Act implementation pressed for answers about why the Main Street Lending Program is off to such a slow start.

The deal is said to be well-suited to the coronavirus era, when in-person transactions have been limited by social distancing and other factors.

Why banks want in on Google checking accounts; readying new tech tools to tackle anticipated rise in delinquencies; more institutions opt to sell PPP loans as heavy lifting nears; and more from this week’s most-read stories.

As more consumers do business online, some deposits are being unfairly categorized as brokered, inviting burdensome regulatory scrutiny.

The regulator announced in June it would use call report data from before the crisis to calculate bank assessment fees in September, a one-time change.

Whoever wins the White House in November may have immediate agency openings to fill, while a key decision looms about who will run the Federal Reserve after Jerome Powell’s term expires in 2022.

Just eight loans had been made as of late July, six of them through a single community bank in Florida, according to new data on the federal rescue program for small and midsize companies hurt by the pandemic.