PayPal has been working to expand Venmo's audience beyond millennials for more than a year, a strategy that it hopes to further with instant transfers.
For a fee of $0.25, users can deposit funds into their
Venmo's parent company, PayPal, has made several changes to the P-to-P service to expand popularity beyond its core millennial audience, particularly given Venmo's impact on
PayPal has made Venmo available for
The moves also come as Venmo faces more competition from the bank-led
A headline-grabbing 2022 lawsuit alleging racial bias by home appraisers has been quietly dismissed for lack of evidence. At the same time, the Trump administration is rolling back many of the policy changes involving home appraisals that the Biden administration put in place.
With its acquisition of a Cleveland-area bank still in the works, the Cincinnati-based bank struck a deal that would provide its first retail presence in Chicago.
Amid waning federal support for community development financial institutions and minority depository institutions, a program launched by two banking trade groups is beginning to generate a steady stream of deposits for mission-focused lenders.
Federal Trade Commission data shows scam losses for adults 60+ have skyrocketed, with banks under pressure to strengthen protections.
Analysts said trade war-related issues are pressuring the U.S./Mexico remittance corridor, lowering the value of the acquisition. Devin McGranahan told American Banker Intermex's technology and footprint provide a path for future expansion.
Federal Reserve Vice Chair for Supervision Michelle Bowman said she foresees three interest rate cuts for this year, a view bolstered by the latest employment data.
