MasterCard Inc. said April 15 that it has completed its purchase of the back-office prepaid card operations of Travelex Holdings Ltd. of London.
The $458 million acquisition, announced in December, gives the Purchase, N.Y., card brand the ability to support prepaid card programs worldwide, though it said it would not compete with the prepaid program managers that already offer MasterCard-branded prepaid cards in the U.S.
The neobank filed for an initial public offering on Tuesday shortly after announcing a new office lease in New York City.
Average Americans are souring on their own financial health, according to a New York Fed survey. That includes their ability to pay off their debts.
Serious delinquencies on student loans jumped tenfold at the start of 2025, shortly after lenient pandemic-era policies came to an end. The greater pressure on consumers' wallets is a cause for concern at banks that rely on borrowers' ability to repay their debts..
New York State Gov. Kathy Hochul has codified how buy now/pay later lending will operate in the state, taking a heavier hand as the Consumer Financial Protection Bureau loosens its grip under President Trump.
Richmond, Virginia-based Atlantic Union is still integrating its recent acquisition of Sandy Spring Bank in Maryland. But CEO John Asbury has already begun plotting a new expansion course.
Tentative appointments at the Federal Deposit Insurance Corp. and the Federal Reserve have compliance officers reading the tea leaves for future policy plays.
