Fintech

The New York-based digital-only bank is seeking to partner with more brands after a recent deal opened the way to serving millions of AAA customers.

Late-payment rates among U.S. borrowers rose again in the second quarter, according to a report from the New York Fed. The trend reflects a sharp increase in student loan delinquencies, which have been climbing as pandemic-era policies have expired.

Western Union's North American money transfer business logged a decline in cross-border remittance revenue, led by drops in the U.S. to Mexico corridor, its largest remittance stream by far. The company is also bracing for the 1% remittance tax codified in the "Big Beautiful Bill," a levy that does not directly apply to banks.

Direct-to-consumer earned wage access provider EarnIn is rolling out Live Pay, a service that "streams" consumers' paychecks via a Visa card. It's a model banks could replicate.

First Foundation is in transformation mode, after a capital infusion and new management gave it some power to remix its challenged balance sheet. But the bank just took its third quarterly loss out of the last four quarters.

The card network said inflation remains in check and any impacts of Capital One moving cards to the Discover network will be muted and delayed until 2026.

JPMorganChase and Apple are reportedly close to an agreement that would see the country's largest bank take over the Apple Card portfolio from Goldman Sachs.

The Federal Reserve's monetary policy committee is expected to leave interest rates unchanged again Wednesday amid reports of renewed economic growth in the second quarter and despite ramped up pressure from the White House to cut rates.

International remittances are a key use case for Visa's stablecoin strategy, CEO Ryan McInerney said during its fiscal Q3 earnings call with investors. They also pair nicely with Visa Direct, the company's instant payment scheme, he said.