Merchant

Visa and Mastercard credit card-issuing banks with more than $100 billion in assets would be required to give merchants a lower-cost choice for processing each transaction under a new bill proposed to spur competition.

Elliott Investment Management is holding discussions with PayPal Holdings over an agreement that would see the activist investor have a hand in determining the future direction of the company, according to people familiar with the matter. 

With Ulrich Koerner taking over as chief executive officer, Credit Suisse Group’s top ranks are looking more like UBS Group, suggesting the firm may draw from its crosstown rival’s playbook.

Visa said it will hand out annual raises for more-junior employees earlier as it seeks to help staffers battling once-in-a-generation levels of inflation.

Credit Suisse Group plans to announce the departure of Chief Executive Thomas Gottstein, The Wall Street Journal reported, part of efforts to turn around the struggling company. 

The latest expense guidance also stems from rising operating losses at the North Carolina bank. Cost-cutting was a key rationale for the 2019 merger of BB&T and SunTrust, which created Truist.

Goldman Sachs Group plans to slow hiring and reinstate annual performance reviews as the Wall Street bank looks to rein in expenses.

Issuers that offer cash rewards can benefit from consumer anxiety over rising prices for gas and groceries, but have to find ways to make sure their own costs don't rise in tandem.

A class action said the company, which has suffered two breaches in the past year, also was responsible for a larger breach and “downplayed” the situation when it notified consumers.

As Celsius Network’s customer withdrawal freeze enters a full month, the beleaguered crypto lender has paid back a string of debts totaling more than $900 million during the same period to decentralized-finance platforms.