Fintech

The state is requiring merchants to accept cash denominations of $20 and under and prohibits them from charging extra to accept cash. The law, which goes into effect in March, comes as merchants are responding to the Trump administration's abrupt cancellation of penny production.

The Canadian bank is determined to grow its U.S. business organically, CEO Darryl White said Thursday. But with so much excess capital, analysts wondered about the bank's appetite for M&A.

The card network is making a digital wallet push following the Digital Markets Act, which dilutes Apple's control over mobile payments technology.

Royal Bank of Canada now expects to achieve an annual return on equity of at least 17% by 2027, executives said Wednesday, up one percentage point from the bank's earlier goal.

As federal watchdogs step back from regulating "Buy Now, Pay Later" loans, state authorities are stepping in. This week, the attorneys general from California and several other blue states joined the fight.

Financial institutions see an opportunity to nab scale after years of tepid dealmaking, but investors are pushing back against such efforts out of concerns about shareholder value.

The Wisconsin-based regional bank plans to acquire American National Corp. in an all-stock transaction valued at $604 million. It is Associated's first acquisition announcement since Andy Harmening became CEO in 2021.

Chris Ward of TD Bank and American Banker reporter Allissa Kline talk about challenges and opportunities in banking small businesses.

The Swedish financial technology firm issued its first stablecoin and signed a gift card distribution deal with BlackRock. Also, EMVCo is examining AI's impact on processing and more in the American Banker global payments and fintech roundup.

A recent $450 million loan is par for the course at Beal Bank USA, which has developed a reputation for seeking out nine-figure loans backed by tangible property.