Fintech

Members of the Financial Stability Oversight Council are trying to light a fire under banks to adopt an alternative to the foundational reference rate.

The social network now lets people send links and QR codes to request funds through the Messenger app, but users may have little incentive to switch — or to trust Facebook with more of their data.

Brian Doubles, who became the card issuer’s chief executive in April, also expressed optimism that pent-up consumer demand will spur renewed spending this year.

The bank has its eye on younger cardholders who are ready to spend more heavily now that pandemic restrictions have eased.

The bank is shortening the time for deposit availability in the hope of serving use cases like gig economy workers and disaster relief.

COVID-19 economic pressures have pushed more adults living paycheck-to-paycheck to want their income early, calling into question the value of decades-old payroll practices — and highlighting disparities along economic, racial and gender lines.

Amazon.com is fielding bids to replace JPMorgan Chase as the issuer on its popular co-brand credit card as a fresh wave of competition for new card customers emerges.

Global Payments' TSYS subsidiary and BM Technologies will offer the program, which allows transgender and nonbinary consumers to use their preferred name on payment cards.

The four largest U.S. banks face investor pressure to deliver the returns of smaller rivals, but they complain that the federal deposit cap and capital rules make that difficult. So they're pouring money into wealth management, payments and digital banking to seize more market share in existing businesses and fend off nonbank challengers.

The product, which will compete against Citi’s Double Cash card, is the first step in CEO Charlie Scharf’s revamp of a business segment that has long trailed top competitors.