Technology

Mastercard is facing pushback from retailers over a new product that allows customers to pay off their purchases in installments. 

The two major tech firms were targeted in an intricate phishing scheme last week. One fended off the attack; the other was not so fortunate.

Digit engaged in deceptive acts or practices by routinely causing checking accounts to overdraft, the Consumer Financial Protection Bureau said.

Direct connectivity between the cross-border payment company and the data aggregator will let Wise's 13 million customers use the 6,000 fintech apps in Plaid's network without the need for a bank account.

Websites such as Credit Karma and LendingTree, which work closely with financial institutions, have had to rethink their strategies to bounce back from the pandemic.

Funding constraints are a "business problem that we need to address," CEO Dave Girouard said. The online consumer lender has seen a significant drop in demand for its loans from banks and investors.

In markets such as India, China, the United Arab Emirates and Brazil, more consumers and merchants are testing or deploying facial recognition as a way to authenticate transactions.

Goldman Sachs Group has extended a $150 million credit line to the Mexican startup Clara, which lends to corporations and helps manage their spending, the latest Latin American fintech to receive support from the New York-based banking giant.

Two laws signed Friday by President Biden extend the statute of limitations for fraud cases involving pandemic-relief programs. One of them would have a particular impact on Paycheck Protection Program loans made by nonbanks.

A vast majority of IT leaders at banks want to ditch passwords for something better and safer, and many tech vendors are moving in that direction already. But it's easier said than done.