Fintech

Banks, especially big ones, have become too dependent on hidden-fee income. As the consumer credit market evolves toward greater transparency, the CFPB's rules will be the least of their problems.

Wars in Ukraine and the Middle East. Fiercely polarized U.S. politics. Rapidly multiplying payments options on social media networks and elsewhere. Those factors and more are making it harder than ever for banks to combat illicit financial transactions.

Despite further delays, the country has taken two key steps to opening up access to its Real-Time Rail, including allowing payment companies to participate without a bank partner, but it has yet to commit to a date for the project to go live.

A key bank stock index ticked up after the Federal Reserve hinted that it could lower rates later this year. But there are still a number of economic uncertainties that are holding shareholders back.

At an American Bankers Association event, Sen. Jon Tester, D-Mont., who's up for reelection this year, said that he hopes the Durbin-Marshall credit card bill won't go anywhere and criticized the Federal Reserve's debit interchange proposal.

The fast-food chain is analyzing the cause of an issue that affected payments in multiple countries. Separately, dLocal, a payments processor in Uraguay, is making changes at the top.

Banks are proceeding with caution as a new generation of AI tools arises.

Thomas Halpin, who heads global cash management for North America, talks about real-time processing, generative AI, central bank digital currencies and why the ISO 20022 messaging standard is cool.

Credit card late fees are annoying, but that's why they work as a disincentive to prevent late payments. By making them much smaller, the CFPB will actually be working against the interests of low-income consumers.

Some 54% of small businesses said in a recent survey that elevated rates had led to higher debt payments. And in a sign that loan demand remains soft, 37% reported delaying expansion plans or capital spending.