Fintech

The London interbank offered rate was a flawed benchmark, but it was nonetheless a centerpiece of finance for decades. Congress should ensure it doesn't replace one interest rate monoculture with another as Libor winds down.

The card brand's spots will focus less on credit cards and more on real-time payroll, cryptocurrency and mobile commerce.

Blending its existing technology with new authentication measures, the company aims to cut costs for credit unions that don't want to join the bank-run peer-to-peer network.

The Consumer Financial Protection Bureau's recent advisory on the products was mild, but some analysts say it's only a matter of time before the agency develops more prescriptive rules and targets providers for enforcement.

The fintech's new checking, savings and lending package caters to clients who want to separate their corporate accounts from personal banking.

Citigroup stopped taking applications for its $495-a-year Prestige card, a competitor to American Express’s Platinum line and JPMorgan Chase’s Sapphire Reserve.

While money market funds are flocking to the Federal Reserve’s overnight reverse repurchase agreement facility for the yield, large U.S. banks are using the program to shed unwanted deposits.

United Community Banks in South Carolina and Blue Ridge Bancshares in Virginia have each struck agreements to buy or merge with banks in major metropolitan markets, where they will aim to siphon business from larger rivals.

The Minneapolis company benefited as business for airlines and hotels picked up sooner than expected. The rebound helped fee income in the bank’s payments business approach prepandemic levels.

Income from stock trading and investment banking trounced analyst estimates in the second quarter and made up for weaknesses in the company's much bigger fixed-income and credit card divisions.