Merchant

Morgan Stanley agreed to pay $60 million to settle a class action suit by consumers claiming the firm failed to safeguard their personal information.

Asenso Finance and a community development financial institution, the National Asian American Coalition, have developed a loan aimed at borrowers with limited credit histories. The underwriting relies in part on alternative data and borrowers are required to take financial literacy courses.

A few changes to underwriting rules could result in a huge opportunity for both lenders and minority women who own businesses.

For the third time since the start of the pandemic, the Richmond, Virginia, company will close branches to contain costs in what it calls a “challenging macroeconomic environment.”

Bank of America is turning to private jets and exotic cars to compete with American Express and JPMorgan Chase and lure big spenders to its credit cards.

The Georgia bank estimates that it will save $12 million annually by shutting down 40 branches.

U.K. authorities expect to recover as much as 2 billion pounds ($2.7 billion) of fraudulent COVID loans over the next year, Chancellor of the Exchequer Rishi Sunak said on Tuesday.

By acquiring First Sound Bank in Seattle, the fintech would control the strategic direction of the combined company and won't have to share revenue, CEO Luvleen Sidhu says.

Canadian Imperial Bank of Commerce is having a harder time keeping costs in check as inflation picks up and the lender invests in its domestic consumer franchise.

The e-commerce giant has threatened to ban Visa cards in the U.K., and its partnerships with the likes of Affirm and Venmo give it alternative ways to accept payments — and the means to make good on that ultimatum.