Merchant

Larger banks are responsible for a special assessment to cover the costs of the failures of Silicon Valley Bank and Signature Bank. The price tag has ballooned by $4.1 billion, and trade groups are criticizing the FDIC's process, arguing that it lacks transparency.

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.

The attack is one of three major incidents the lender has suffered in the past three years.

Bank of America, Citi and Navy Federal are among banks and credit unions to recently manage through unforeseen challenges.

Data as of Dec. 31, 2023. Dollars in thousands.

To serve an increasingly online audience, POS Nation has acquired agriculture e-commerce platform GrazeCart, an example of vendors joining forces to adapt to shifts in the agriculture industry.

Brazil's Pix network, at just three years old, now accounts for 15% of all global real-time payments — and its success is inspiring projects in other countries.

Some analysts said that the Capital One-Discover deal would undercut the reasoning behind the Credit Card Competition Act — authored by Sen. Dick Durbin, D-Ill. — which aims to spur competition for Visa and Mastercard.

The Supreme Court justices grappled with the question of whether a newly formed company can challenge a regulatory rule after the six-year statute of limitations has expired, a decision that could have broad impact on plaintiffs' ability to challenge agency rules.

The recently announced merger of Capital One and Discover would create a credit card behemoth, but would also create a credible challenger to the Visa-Mastercard duopoly. Regulators will have to choose between having both or neither.