Generative artificial intelligence has usurped its traditional counterpart as the next growing technology taking the payments industry by storm.

The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction.

The Pittsburgh bank has been looking for the right target to acquire at the right time. But top company executives said Tuesday that deals are likely off the table in the near term because of uncertainty about the direction of tariff policy and interest rates.

Affirm is reporting consumers' buy now/pay later loans to Experian, following a February study with FICO. It's one of the first steps in credit reporting for BNPL, potentially complicating banks' assessments for other types of lending.

In a settlement with bank trade groups that sued the Consumer Financial Protection Bureau, the Trump administration has agreed to drop the credit card late fee rule with prejudice.

An industry consultant thinks Edward Jones' latest bid to start a bank is an attempt to add revenue sources as the traditional brokerage business becomes less lucrative.