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Monzo raises a $430 million investment to accelerate its expansion in the U.S.; Stripe adds support for Tap to Pay on iPhone; and more in this week's global payments news roundup.

Orlando-based Cogent Bancorp's Brandon Ghee, a former NFL player, has launched a business line focused on providing banking services to professional athletes and the growing number of college standouts earning six- and seven-figure incomes.

As the head of enterprise technology and security, Guild tries to stay ahead of fraudsters and other bad actors.

Wells Fargo unveiled a new credit card and is bolstering how it rewards customers for their spending, crucial steps in Chief Executive Officer Charlie Scharf's mission to make the fourth-largest U.S. bank a bigger player in a space long dominated by rivals.

Brazil's Pix network, at just three years old, now accounts for 15% of all global real-time payments — and its success is inspiring projects in other countries.

A blizzard of new rules and regulations strikes at the fundamental strengths of the U.S. banking system, and will have negative impacts on both American consumers and businesses.

In 2023, the Biden administration pledged to reduce "junk fees." Ahead of this year's State of the Union, we revisit what progress has been made.

The letter, which was sent to bank regulators, represents a further escalation of lawmaker criticism of the Basel III endgame proposal, and comes just as Federal Reserve Chairman Jerome Powell is set to testify in the House Financial Services Committee.

The auditing giant KPMG audited the three regional banks that failed last year. New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role.

Bill Demchak, in a panel hosted by Brookings on Tuesday, said that last year's bank failures wouldn't have happened if the Office of the Comptroller of the Currency had been the supervisor.

Many other organizations have turned to sales of this asset class in order to enhance cash flow or liquidity.

Contenders see plenty of room for the market of EFTS investing in CLOs to grow. The question is if they can potentially usurp some of banks' dominance in AAA-tranche investing.

Top banking regulators reaffirmed their commitment to bolstering the Community Reinvestment Act despite a court challenge, emphasizing their personal dedication to seeing the rule implemented.

The failures of several midsize banks last year demonstrated shortcomings in the deposit insurance framework and lit a fire among policymakers to take it on. But for some reason that fire went out.

Berkshire Hills Bancorp declined to detail the savings it expects from the downsizing, though one analyst estimated it could shave $3 million from the company's annual noninterest expenses.

The fintech has grown its way into the black for the first time since going public in January 2022, CEO Jason Wilk says, capitalizing on AI-underwritten cash advances of up to $500.

The chair of the House Financial Services Committee called the last resort lending facility "a generation behind" broader capital markets. He said modernization should be part of the Federal Reserve's response to last year's bank failures.

The ruling further complicates an already complicated area — the law's mandate around beneficial ownership information reporting.

Banks and trade groups denounced the Consumer Financial Protection Bureau's final rule to cut credit card late fees to $8, saying they will do everything possible to kill the rule.

Clients that have a brokerage account with either bank can invest in the exchange-traded funds tied to the spot price of bitcoin, as the currency's value sits at historic highs.