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The banks are publicly committing to interview more minorities for top positions; the agency says automated compliance checks are preventing lenders from approving loan applications.

Capital One Financial is the latest credit card issuer to release loss reserves because its loans have performed better than expected during the pandemic.

A payment company focused on customer experience can work behind the scenes to facilitate that success, says PayNearMe's John Minor.

Flywire braced for disaster last year when the pandemic struck, with millions of foreign students canceling their academic plans indefinitely.

Daily edition for January 27, 2021.

Todd Harper, a Democrat, says he will continue his efforts to increase the agency's consumer advocacy role, despite opposition from the industry and two Republican board members.

A tax that banks successfully opposed throughout the Obama administration was endorsed by the president on the campaign trail and is supported by many prominent Democrats in Congress as a means of funding government spending.

The Georgia company increased its target for annual expense cuts and new revenue to $175 million from $100 million. But executives warned that low interest rates and weaker mortgage volume, along with a need to invest in technology, will delay some of the bottom-line benefits.

Bankers including Mary Erdoes of JPMorgan Chase and Barclays CEO Jes Staley say working from home is at risk of not working anymore.

Fast has received a new round of funding from backers including Stripe.

Kate Fitzgerald, senior editor at PaymentsSource, talks to Eric Grover, principal at Intrepid Ventures, about the political activities that hinder the expansion of payment systems.

The Bridgewater, N.J.-based credit union promoted Frank Almeida to president and CEO, the final step in process it began when he was hired in 2014.

The three banks have joined others in a program endorsed by The Clearing House that aims to make data-sharing agreements with aggregators like Plaid and Finicity work more effectively.

The card brand is betting on homebound consumers' eagerness to get out, but restrictions will need to ease. And corporate spending will take much longer to come back.

“The economy keeps moving forward and we feel very constructive about the consumer activity,” Brian Moynihan said.

Intensifying competition from banks could persuade large credit unions — particularly those with more than $1 billion of assets — to join forces in 2021.

The card brand is betting on homebound consumers' eagerness to get out, but restrictions will need to ease. And corporate spending will take much longer to come back.

Small businesses still process a large number of transactions and can fall behind if there are delays, says Valtatech's Jussi Karjalainen.

The Stamford, Conn., company is acquiring Allegro, a California lender that finances the purchase of hearing aids and other health-related products or services. It’s aiming to capitalize on the rising popularity of point-of-sale lending and a need for more financing options in health care — especially as more Americans turn to high-deductible plans.