Technology

Citigroup plans to let credit card customers finance big purchases on Amazon.com over longer periods of time — a deal that may spur sales at the e-commerce giant while boosting the bank’s interest-bearing balances.

Government stimulus programs are buoying consumers hurt by the coronavirus shutdown; the bank has been forced to sell loans to stay within the Fed-imposed $1.95 trillion asset cap.

Banks are utilizing an array of overlay services to address historical market challenges, such as the continued use of checks among businesses that do not have the information or capabilities to send digital payments.

The major card networks have heavily invested in broader services as transaction processing loses its luster, a strategy that’s provided a ray of hope as retail and travel industries remain sidelined.

Apple Inc. has acquired Mobeewave Inc., a startup with technology that could transform iPhones into mobile payment terminals, according to people familiar with the matter.

The Conference of State Bank Supervisors, banking law scholars and consumer advocacy organizations filed amicus briefs siding with the New York State Department of Financial Services in its court battle with the federal regulator.

The measure would release $2 million in funding for the U.S. Postal Service to launch pilot programs to provide basic services such as checking accounts and bill payment.

The legislation proposed by Rep. Nydia M. Velázquez, D-N.Y., goes further than recent state efforts to require better disclosures for high-cost lenders, but it would face an uphill battle in the GOP-controlled Senate.

A public listing would improve Affirm’s competitive position against other point of sale credit providers, which have made recent deals to cement their scale among global merchants.

Artificial intelligence presents new and unique challenges to ethics and morality. U.S. Bank discusses why a deliberate ethical framework must serve as the bedrock for any company's AI efforts