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The payment company is working with Google Cloud to develop new forms of machine learning on a larger scale.
February 22
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The credit card lender's blockbuster acquisition of Discover is not guaranteed to get across the finish line. But co-founder and CEO Richard Fairbank appears to see the rewards that would come from controlling a payments network as outweighing the potential downside.
February 22
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The American Bankers Association's latest credit conditions indices show that economists at major banks are feeling more confident about commercial lending in 2024 — but they stop far short of a ringing endorsement.
February 21
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Some analysts said that the Capital One-Discover deal would undercut the reasoning behind the Credit Card Competition Act — authored by Sen. Dick Durbin, D-Ill. — which aims to spur competition for Visa and Mastercard.
February 21
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Acting Comptroller Michael Hsu Wednesday suggested the Financial Stability Oversight Council adopt a "tripwire approach" for systemic risk assessment, using systemic risk metrics to advance designations.
February 21
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Though law enforcement agencies in the U.S. and Europe gained valuable intel on ransomware groups, many believe the hackers are likely to regroup and rebrand.
February 21
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The application deadline for this annual ranking is May 10.
February 21
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The world's largest credit union said that Dietrich Kuhlmann, a retired rear admiral and currently the institution's chief operating officer, would succeed retiring CEO Mary McDuffie on March 1.
February 21
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London-based global money-transfer firm TerraPay has hired Ruben Salazar Genovez, the longtime global head of Visa Direct, in a new role as the startup's president; U.K. challenger bank Revolut has added a tool that uses machine learning to flag payments for fraud; and more.
February 21
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In implementing Section 1033, the Consumer Financial Protection Bureau is leaving out auto loans, one of the largest sources of consumer debt.
February 21
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The combined company could streamline card payments in a manner similar to American Express' "three party network" — while also doing more with artificial intelligence and other technologies.
February 21
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The top five banks and thrifts have combined total deposits of more than $7 trillion as of September 30, 2023.
February 21
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The blockbuster merger proposal will be reviewed at a time when the Biden administration is expressing skepticism about consolidation. Its analysis will have to account for markets dominated by both big banks and the likes of Visa and Mastercard.
February 20
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Data, volume and potential regulatory carve-outs are among the benefits Capital One Financial would get upon the completion of its deal to buy Discover Financial Services.
February 20
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The Pittsburgh company says its new president, Michael Lyons, will report to William Demchak, who will continue as chairman and chief executive. Lyons is positioned to become PNC's next CEO someday, observers said.
February 20
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Auto-enrolling its membership for a credit-scoring tool offered by SavvyMoney helped Knoxville TVA Employees Credit Union nearly double approvals across its credit card, personal and auto loan portfolios in early 2023.
February 20
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The gang allegedly had been involved in some of the highest-profile ransomware attacks against financial institutions of recent years.
February 20
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The Charlotte, North Carolina, company has agreed to sell its remaining 80% stake in its insurance brokerage unit to raise billions of dollars in cash and extra capital. The "wild card" is how Truist will deploy them, one analyst says.
February 20
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