Fintech

American Express Co. boosted the perks on some of its premium cards once again as the card issuer tries to keep a lid on attrition during the coronavirus pandemic.

The deal will expand the credit union's reach into western Michigan at a time when a growing number of banks are trimming their networks.

A California startup and a century-old Missouri bank, which began using The ClearingHouse's real-time payments network this summer, say businesses have embraced the technology to pay suppliers and gig-economy workers and quickly close real estate deals.

The brand's youthful customer base will make its model common among other payment companies, says TLGG's Katrin Zimmerman.

Members of First Choice Community Credit Union will have access to mobile banking and other products once the institution becomes part of Credit Union of Ohio.

Two smaller banks with strikingly different roots — a startup financial institution in Irvine, Calif., and a century-old Missouri-based bank — are seeing similar trends emerge around demand for real-time payments.

The two agencies proposed amending the Bank Secrecy Act to lower the threshold for transfers occurring outside the U.S. that trigger recordkeeping requirements.

Lenders have spent months puzzled by the persistently low delinquencies on their credit cards. Now, they’re seizing the moment.

The Democratic nominee has not gone as far as some progressives in support of financial inclusion, but ideas such as postal banking, a government-run credit reporting system and universal bank accounts would likely gain traction under a Biden administration.

Institutions that cling to outdated lending tools run the risk of being left behind by commercial clients who are barraged with opportunities to borrow faster and more conveniently.