Merchant

Tech giants such as Google and OpenAI are pushing to bring commerce and checkout into their platforms. But for many merchants, solving the question of how payments fit in is less of a priority.

The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.

The payment company is betting on agentic commerce to get its checkout tech in front of more merchants and consumers.

The payments firm is hoping that planting a flag in merchant stablecoin payments now will be accretive as stablecoins gain greater adoption.

"These changes reflect adjustments we're making to ensure our staffing levels, locations and expertise align with current business needs; efficiencies we have gained through technology; and progress against our transformation work," the company said in a statement.

The Federal Reserve will resume accepting pennies from banks and credit unions at all commercial coin distribution locations beginning Jan. 14. The central bank had ceased accepting pennies at some distribution centers late last year, but bankers praised Thursday's reversal.

Stories about data breaches, fraud and one neobank were reader favorites this year.

The Treasury Department issued guidance on how merchants can round cash transactions to the nearest nickel. Banks and retailers have been calling for more clarity from the government amid a penny shortage that stems from the Trump administration's abrupt decision to halt production of the one-cent coins.

Democratic senators are attributing a recent decline in lending activity to a Trump administration regulation that puts new restrictions on borrowers with foreign ownership.

New data shows a 21% jump in fraud attempts during Thanksgiving week, with automated bots and credential stuffing leading the charge.