Lost in the battle between banks and retailers — which is being fought with renewed vigor in the early days of the Trump administration — is any consideration of how caps on interchange fees have affected consumer spending patterns.

The card brand and bank will offer lending and prepaid cards to a traditionally underserved demographic.

The new group, which will work alongside the bank’s lobbyists and focus on policy at U.S. and overseas regulators, is being run by Kevin Bailey, an alum of the OCC and GE Capital.

When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.

When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival.

Citigroup agreed to pay a penalty of almost $5.4 million to settle a South African antitrust investigation that said it participated in an alleged cartel to manipulate the value of the rand.

Michael Corbat is getting a pay cut for a year when Citigroup's profit fell 14% and return on assets failed to meet his 2016 target.

The president’s vow to impose a 20% tax on Mexican imports could make life harder for the Citigroup-owned unit, which is Mexico’s second-largest bank.

Bank CEOs have recently raised red flags about the president's protectionist rhetoric, including his proposals to tax imports from China and Mexico. The concerns have arisen as import-export financing is already facing headwinds.

Citigroup's plan to sell a $97 billion mortgage servicing portfolio and subservice its remaining accounts highlights the growing prevalence of nondepository servicers and raises questions about how much capacity exists for these institutions to absorb more large deals.