Firms like Nium and Amex GBT are using virtual cards and agentic commerce to take a crack at easing the complicated processes involved in business trips.
A second lawsuit challenging the Federal Reserve's debit interchange fee regime is set to be heard in the U.S. Court of Appeals for the 6th Circuit in October. JPMorganChase, Bank of America and Wells Fargo — as the largest debit issuers by purchase volume — are most at risk to see a dramatic cut in interchange revenue.
Banking industry groups are backing vulnerable incumbents as Democrats target vulnerable GOP-held seats. The trajectory of near-term financial services policy and oversight hangs in the balance.
Financial institutions have work to do to give themselves and their chatbots more street cred, experts say.
The Bureau of Economic Analysis reported that the personal consumption expenditures, or PCE, price index rose 3.7% from a year earlier, indicating that inflation remains above the Federal Reserve's target.
As the big tech firms step up their financial services outreach to the next generation, payment professionals say banks shouldn't be complacent about cultivating younger customers because they'll lose them.
