Fintech

The Los Angeles-based parent company of Bank of Hope expects to complete its acquisition of Honolulu-based Territorial in April. The $79 million deal faced challenges when an investor group made a competing bid.

Block has combined buy now/pay later with peer-to-peer payments, part of a big bet that younger consumers want an alternative to credit cards.

The company's cards will combine with the Alipay digital wallet, enabling foreign travelers to use local currency while reducing fees and processing steps. That and more in the American Banker global payments roundup.

The company sells capital markets technology to small banks that have growing international processing needs, betting the lack of client overlap prevents a big bank/small bank competition.

The fees are controversial for card networks and consumers, but the impact on banks has been muted. Here's why that could change.

Serious delinquencies on auto loans rose to almost 3% in the fourth quarter of 2024, according to the New York Fed. Researchers blame the affordability problem on soaring car prices.

The money-transfer company's move came after the U.S. State Department last week renewed sanctions against the island nation. That, plus Klarna and Standard Chartered get bullish on crypto; Trump's not the first politician to rail at pennies; and other international payments and fintech news.

FIS' debit-processing bank clients will soon be able to integrate Affirm's pay-over-time products into existing digital banking infrastructure. For Affirm, it means even more potential BNPL transactions.

The Consumer Financial Protection Bureau, now led by Treasury Secretary Scott Bessent, agreed to temporarily halt enforcement and litigation over its medical debt rule, handing the banking industry an immediate reprieve.

The senators introduced legislation that would limit the interest rate card issuers are able to charge holders for the next five years.