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The founder and CEO of the buy now pay later giant spoke with American Banker about how agentic AI will soon revolutionize the way consumers shop, make purchases and manage their personal finances. That will be accretive for Affirm, especially in a world where agents are making payments on behalf of consumers.

The Department of Justice told a court that the Consumer Financial Protection Bureau cannot legally request funding from the Federal Reserve System, arguing that the Fed has not turned a profit since 2022 and thus cannot fund the CFPB.

Tougher contracts and more transparency are two of the improvements that have come about since the banking-as-a-service middleware provider's bankruptcy, practitioners say.

Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.

A former member of Congress and current bank chairman calls on lawmakers to pass several reforms that would allow banks to take back market share that has been lost to nonbank competitors.

The Boston-based custody bank has acquired PriceStats, a private economic researcher. The move comes at a time when federal data agencies are weathering budget cuts, political attacks and a government shutdown.

Barwick Banking Co. will have the wherewithal to accelerate its expansion in Georgia and Florida after a $50 million investment from a new venture capital platform.

The fintech SpringFour has partnered with financial institutions to connect individuals to community resources in a record-long U.S. government shutdown.

Following a judge's rejection of a 2024 settlement with merchants, the card networks are offering a slightly higher interchange reduction and easing card acceptance rules. It's the latest attempt to end a legal fight that's two decades old.

Sunrise Banks and other members of the Global Alliance for Banking on Values are encouraging their employees to train the generative AI models they use, so that the models understand values-based banking.

Industry groups and consumer advocates are continuing to push for regulators to interpret the GENIUS Act's prohibition on stablecoin interest as broadly as possible, while crypto firms push for a narrower interpretation, arguing that increased competition would benefit consumers.

Federal Reserve Governor Stephen Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction.

Bankers who view the FDIC as their insurance cooperative protecting them rather than a corporation protecting depositors have proposed unwarranted $10 and $20 million FDIC deposit insurance limits. There is a better solution to their concern over big bank competitive advantages.

President Trump and housing regulator Bill Pulte are considering introducing a 50-year fixed rate mortgage that Fannie Mae and Freddie Mac would purchase.

In its latest financial stability report, the Federal Reserve found that asset valuations continue to be elevated and leverage levels remain high, especially among nonbanks like hedge funds and insurance firms.

Federal Reserve Board Gov. Stephen Miran said the growth of stablecoins and cryptocurrencies will likely impact monetary policy and could lead to lower interest rates.

The Spanish bank says it can connect small and medium-size U.S. businesses with local market experts on its newly launched digital platform Navigator Global.

The Pittsburgh-based bank said Friday that it will focus on building 300 branches in high-growth markets by 2030. It also minimized the prospects for another acquisition on the heels of its recent deal for Colorado-based FirstBank.

Consumers' and merchants' penchant for 0% loans are boosting the buy now/pay later lender in its first fiscal quarter ended Sept. 30, as gross merchandise volume hit a record.