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Qualified nonbanks should be able to issue credit cards. This has only rarely been possible up to now a situation that has warped the industry's structure, giving banks undeserved dominance.
August 22
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PayPal will have its payments accepted throughout Discover's network, in a deal that increases the threat to traditional payments giants Visa and MasterCard.
August 22
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Canada's banks, the most stable in the world, will probably post the lowest profit growth in two quarters as consumer lending eases and spending subsides ahead of a potential housing slowdown.
August 22 -
As a new partner for PayPal, an early partner for Isis and the first issuer to sign on to a new method of participating with Google Wallet, Discover Financial Services is establishing itself as a foundation for mobile payments initiatives.
August 22 -
PayPal next year will extend its reach through Discover Financial Services' network, enabling direct acceptance of the PayPal digital wallet at more than seven million U.S. merchants.
August 22 -
NMI Holdings, which raised $550 million in April to open a mortgage insurer, faces a lawsuit from an Arizona regulator, highlighting the role of state watchdogs as the industry seeks to recover from years of losses.
August 22 -
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The private-equity firm Lovell Minnick Partners has invested $50 million in TriState Capital Holdings in Pittsburgh.
August 21 -
Bank of America has ceased selling all payment protection plans to credit card customers, killing off a business line targeted by regulators.
August 21 -
A Newport Beach, Calif., firm that buys problem loans from banks has struck its second deal in less than a week.
August 21
