Fintech

Firm will pay $700 million to settle issues stemming from data breach; don’t expect JPM CFO Jennifer Piepszak, or anyone else, to be named heir apparent.

When Amazon was busy driving traffic to its site — and the likes of Walmart and Best Buy were aggressively trying to pull shoppers away — it also invited several issuers to compete to be the top-of-wallet card for Prime Day spending.

The argument that only the federal government is up to the task is misguided.

The Birmingham, Ala., company warned in its earnings call that moves by the central bank could make it harder to lower costs.

After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.

A bill by Rep. Patrick McHenry, R-N.C., would give the CFPB authority to oversee cybersecurity efforts at the credit bureaus.

Even with an economy that has slowed to a "moderate" pace, American Express says U.S. consumers' spending trends remained solid and, in the case of Amex cardholders, they are willing to pay fees for cards that come with the right features.

Blockchain and cryptocurrency innovations threaten to upend mainstream remittance providers, but there are still market gaps that may be best served by a large bank footprint.

For business payments, financial institutions have the trust advantage over fintechs but are not offering an easier experience, argues Steve Robert, co-founder and CEO of Autobooks.

The credit card issuer reported expense growth that rose faster than net interest income during the second quarter.