Fintech

A second lawsuit challenging the Federal Reserve's debit interchange fee regime is set to be heard in the U.S. Court of Appeals for the 6th Circuit in October. JPMorganChase, Bank of America and Wells Fargo — as the largest debit issuers by purchase volume — are most at risk to see a dramatic cut in interchange revenue.

Thomas Eide's CB Surety ran small charges on prepaid cards to dilute clients' charge-back ratios, keeping open the accounts banks would have closed.

The big box retailer was a notorious holdout, but payment analysts said consumer annoyance and the coming of agentic payments are weighing against the data control enjoyed by keeping Apple outside.

The U.S. Court of Appeals for the 8th Circuit is set to decide whether a lower court's decision that found the Federal Reserve mispriced debit interchange limits in the Durbin Act stands. Analysts say the battle will pressure banks toward faster payment options.

Correspondent banking has been around since the 14th century, when Italian merchant-banking houses used a network of partner banks and agents to settle trade debts without physically shipping coins, and has since become vital infrastructure to facilitate global payments. Today, digital assets are challenging some of the economics that have supported correspondent banking.

A former Regions Bank employee who's been banned from the industry was allegedly part of a fraud ring that cost the bank roughly $400,000.

HomeTrust Bancshares, which has been eyeing Virginia as part of its growth strategy, plans to acquire the formerly troubled Blue Ridge Bancshares in an all-stock transaction.

Competition for loans and deposits in Texas is mounting as out-of-state banks swoop into the Lone Star State, eager for a piece of the economic pie. Some Texas-headquartered banks are trying to hold their ground by doubling down on full relationships and customer service.

Citi's pending purchase of the rewards fintech is a pivot in the way the $2.9 trillion-asset bank thinks about its points program and comes at a time when interchange is under fire.

Retirement savers often don't realize what they're paying in fees or how much they can lose by leaving rollover cash uninvested, but advisors can help on both fronts.