Fintech

JPMorgan Chase’s fledgling digital bank is going after more customers in the U.K. with a new savings account.

Wells Fargo will start letting customers earn points and miles on their rent payments as the banking giant deepens its push into credit cards. 

Citizens Financial Group is mulling the acquisition of a wealth manager or even a lender in Florida following a deal spree by the bank last year, CEO Bruce Van Saun said.

An appeals court is expected to rule by summer whether, as PayPal argues, digital wallets are excluded from the Consumer Financial Protection Bureau's fee disclosure rule for prepaid cards. If the CFPB loses, its ability to mandate disclosures on a range of financial products could be in jeopardy.

A handful of snafus, some a decade old, shouldn’t tar an entire line of payment products that are a lifeline for many consumers and have helped millions of Americans access and manage their finances during the COVID-19 pandemic.

Several central banks and the Bank for International Settlements have developed prototypes for a common digital currencies platform that has the potential to make cross-border payments more efficient.

Federal Reserve Chair Jerome Powell said the central bank will take the “necessary steps” to get inflation down even if that means increasing interest rates more rapidly than currently anticipated and eventually to levels that slow the broader economy.

The move away from the scandal-plagued London interbank offered rate is going smoothly, according to a new survey of lenders and corporate borrowers. But many customers still face operational challenges ahead of a mid-2023 deadline for switching older loans.

The California bank will let customers of a neobank called BayaniPay Wallet use its branches.

Nearly a quarter of respondents in a recent Credit Karma survey said that their total debt increased after using “buy now, pay later” services, which allow users to pay off purchases in installments over a few weeks.