Merchant

The credit card issuer renewed and extended its 15-year partnership with Amazon and touted fresh partnerships with Walmart and PayPal as wins, but lowered its full-year guidance due to lower purchase volumes and higher payment rates.

Kate Luft, a former chief of staff for Citi CEO Jane Fraser, is now running the company's U.S. retail banking business. In her first interview since getting the job, Luft discussed what banks can learn from airlines and the advantages that incumbents have over fintechs.

The Dallas-based lender, which reported a year-over-year decline in earnings, is anticipating increased loan activity and deposit growth later in the year.

Comerica and U.S. Bank are applying new tools that attempt to take the worry out of real-time transactions made on behalf of third parties. Comerica payments exec Allysun Fleming spoke about the bank's plans.

A U.K. judicial body says the card networks have breached competition laws, while Belgian regulators are examining Wordline for potential anti-money-laundering violations.

Carvana and Plaid, with the help of Cross River Bank, have launched Request for Payment, which combines billing with The Clearing House's RTP Network. The option has been slow to gain traction, but the companies are betting large-ticket purchases, such as for an automobile, will be popular.

The government's instant processing rail hopes to enable new use cases, while Klarna adds to its network.

A number of fintechs emerged amid the COVID-19 pandemic as a flurry of Paycheck Protection Program loan applications inundated banks. Now, the government is alleging many of them facilitated or committed fraud.

Barely two years after adopting a bank charter, NewtekOne in Florida plans to expand beyond its roots as an SBA 7(a) lender by growing its alternative loan program.

The Consumer Financial Protection Bureau cited ongoing litigation and cost benefits in extending compliance by roughly a year with reporting data on the race, ethnicity and gender of small business loan applicants.