PayPal

The firm's investors include Visa and PayPal, as well as the Teacher Retirement System of Texas

Wells Fargo leads $70 million funding effort targeting credit-challenged entrepreneurs; PayPal adds Tap to Pay for Venmo, Zettle; Amex names new CFO to succeed retiring veteran finance chief and more in this week's banking news roundup.

With Dan Schulman leaving, a replacement would have to take on Apple, Google, and a host of fintechs.

To combat cybercriminals, banks and credit unions turn to white-hat hackers to uncover system vulnerabilities. But what motivates these computer whizzes can be surprising.

The rate of unbanked consumers declined to its lowest point since the Federal Deposit Insurance Corp. began its biennial survey in 2009.

The payments giant has sponsored a patch on the NBA team's jerseys since 2018.

PayPal Holdings said Chief Financial Officer Blake Jorgensen is taking a leave of absence to address a treatable medical condition.

The "super app," which incorporates shopping, savings and other offerings, was well received by PayPal's users, but inflation and supply chain issues are likely to weigh on spending through the first half of this year, CEO Dan Schulman said.

The move means companies can give consumers options other than ACH transactions or debit cards to receive disbursements for insurance claims, health care or gig work.

The agency is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, PayPal said in a quarterly regulatory filing.