Fintech

The buy now/pay later company beat analysts estimates on revenue and net income and is trying to get more frequent usage out of its customers.

In a tough market for fintechs, Brex, Green Dot, Marqeta, and others are looking for ways to connect their clients to services outside of banking, a strategy that comes with regulatory risk.

Sens. Elizabeth Warren and John Hickenlooper say recent data suggests there is "no need for restrictive interest rates" and easier monetary policy is necessary to lower housing costs.

Initial employment data shows virtually no job growth in October. With the Federal Reserve's focus on the labor market, the reading could seal the deal for a November rate cut.

Transaction volume and nonpayment services boosted earnings, and the card network expects these trends to continue into 2025.

Core PCE held steady as service costs rose, but the overall report maintains the central bank's flexibility ahead of next week's Federal Open Market Committee meeting.

CEO Ryan McInerney said the case showed a "clear lack of understanding of the payments ecosystem" after the payment card processor posted better-than-expected earnings.

Alex Chriss says the impact of new payment innovation and strategies at units like Venmo and Braintree will take time.

Payment professionals expect physical cards to stick around for the foreseeable future, even as mobile wallets gain traction.

The Federal Deposit Insurance Corp. and Texas banking regulators issued consent orders against Industry State Bank, Fayetteville Bank and Citizens State Bank, requiring major overhauls of their management, capital and risk controls.