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A number of fintechs emerged amid the COVID-19 pandemic as a flurry of Paycheck Protection Program loan applications inundated banks. Now, the government is alleging many of them facilitated or committed fraud.

The card network's moves include supporting coins from Fiserv, PayPal and others; and offering services to what's expected to be a fast-growing industry.

Federal Reserve Chair Jerome Powell testified in the House Tuesday on the heels of yet another pointed social media post from President Donald Trump. But House Republicans largely avoided landing political blows against the central bank chair.

The stock started trading at $31 and closed Monday at $263.45. Circle has been the main beneficiary of the euphoria surrounding stablecoin regulations, as it is one of the few publicly traded companies with stablecoin-linked assets.

The president should unwind the federal government's stake in Fannie Mae and Freddie Mac, and direct the proceeds to a housing remainder trust designed to close critical gaps in real estate lending.

The Federal Reserve chair appears before the House Financial Services Committee for his first of two days of testimony on Capitol Hill this week, part of his biannual monetary policy report to Congress.

Citigroup is on a quest to modernize its global payments stack and be the go-to financial institution for cross-border payments and international corporations. Debopama Sen, head of payments at Citi's Services business, spoke with American Banker about the divisions' progress since its Services Investor Day in June 2024.

The Cincinnati bank aims to grow in northeast Ohio with the acquisition of Westfield. The deal is expected to boost First Financial to a $20.6 billion institution.

House Financial Services Committee Chair French Hill, R-Ark., declined to say whether he would pass the Senate's GENIUS Act without making his own changes, as President Trump has preferred.

Nissan Motor Acceptance Corp. has applied for an industrial loan company charter, joining General Motors and Ford in hoping for better prospects for approval under the Trump administration.