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The technology holds great promise for financial services, but it could be just as powerful for scammers looking to break payment card encryption. Visa, Mastercard and others are already building new defenses.

As payments steadily migrate to cloud-based, digital channels with the rise of mobile e-commerce, Intuit’s QuickBooks unit is augmenting its online payment acceptance options with a mobile payment device that links to its accounting software.

N26 GmbH is holding discussions with investors to raise several hundred million dollars in a fundraising that could value the German fintech at about $10 billion, according to people familiar with the matter.

Daily edition for July 15, 2021

Native American reservations have some of the country's highest concentrations of unbanked households. But tribes are finding ways to get their members access to capital — with or without banks.

The bank's noninterest expenses fell by 8% in the second quarter — a sign that CEO Charlie Scharf is making progress in reining in spending that had been soaring in recent years amid heightened regulatory scrutiny. He ultimately hopes to reduce gross expenditures by $8 billion annually.

As the Federal Reserve mulls whether to establish its own digital currency, Chair Jerome Powell told lawmakers that cryptocurrencies designed to have the stability of bank deposits and money market funds should be regulated accordingly.

The global company says that a quicker-than-expected economic recovery is creating some opportunities to invest in businesses that will generate returns over time.

Bank of America expects interest income to rise as stronger borrowing outweighs the impact of low rates. The upbeat forecast is in contrast with remarks from JPMorgan Chase executives.

PNC’s recent acquisition of BBVA's U.S. operations won quick approval from regulators, but a recent presidential directive promises more scrutiny of such deals, according to CEO Bill Demchak.

The card brand is working with 70 cryptocurrency companies to meet consumer demand for paying in bitcoin and other digital currencies at the point of sale. It had little choice given that most retailers don't accept crypto directly and are in no rush to do so.

The organizations that received charters this year emphasize digital access and remote work, and aim to address the economic disparities highlighted by the pandemic and the nationwide wave of racial justice protests.

Wells Fargo’s average loans tumbled in the second quarter as consumers and businesses, buoyed by pandemic stimulus programs, refrained from more borrowing.

Fiscal restraint, the reversal of enormous amounts of monetary stimulus, smarter regulation and job retraining are among the public policy steps that could interrupt the long U.S. tradition of boom-and-bust cycles.

Income from stock trading and investment banking trounced analyst estimates in the second quarter and made up for weaknesses in the company's much bigger fixed-income and credit card divisions.

The company fell short of net interest income projections as loans and leases in the consumer banking unit dropped 12% from a year earlier. However, loan balances grew from the first quarter — the first sequential increase in a year.

Daily edition for July 14, 2021

The president has a chance to make his mark on the central bank as the terms of Federal Reserve Chair Jerome Powell and Vice Chair of Supervision Randal Quarles near their end. He will face pressure from progressives to pick reform-minded leaders, while moderate Democrats and Republicans in the narrowly divided Senate might favor reappointing Powell.

For the first time, the FDIC, Federal Reserve and OCC have combined efforts to advise banks on risk management procedures when working with nonbank partners.

The credit card issuer’s move will increase the pay of more than 5,000 employees. Numerous banks have recently raised their minimum wages in a competitive labor market.