Fintech

This elite group of young wirehouse and regional employee representatives collectively generate more than $200 million in annual revenue.

On Sep. 30, 2021. Dollars in thousands.

The new product will help Barclays' U.S. bank reach customers who may not want — or qualify for — its cobranded cards. It's part of a strategy to reach more consumers after card balances declined last year.

The credit card issuer fielded questions about its fees two days after the Consumer Financial Protection Bureau announced a wide-ranging review of consumer charges. Executives said they would not take a big revenue hit even in the face of new limits.

Blazing demand for leveraged loans is allowing companies to reduce borrowing costs by tinkering with a provision many viewed as key to weaning the industry off the London interbank offered rate.

Cash is being used in fewer transactions than ever before, and the pandemic has only accelerated the trend. Yet the U.S. is far behind some European and Asian countries in embracing digital payments and significant hurdles remain to its becoming completely cashless.

Esusu, a financial technology company that aims to help bridge the racial wealth gap by reporting rent payments to credit agencies, has become one of only a few Black-owned startups to reach a valuation of $1 billion after closing a Series B round led by SoftBank Vision Fund 2.

Federal Reserve Chair Jerome Powell said the central bank was ready to raise interest rates in March and didn’t rule out moving at every meeting to tackle the highest inflation in a generation.

The expenses jumped 33% last quarter, which was generally in line with trends elsewhere in the credit card industry. The battle for new customers is “intense,” CEO Richard Fairbank told analysts.

Switching from a horizontal layout — a relic of embossed account numbers — is an attempt by issuers like HSBC, Starling Bank and Bank of America to address accessibility challenges faced by customers with dementia, visual impairments and other conditions.