Anand Selva, a longtime Asia hand, will head up U.S. consumer banking; several startups are backed by traditional card issuer veterans, such as former Citi CEO Vikram Pandit.

Citigroup Inc. is restructuring its consumer banking operation in a shake-up that includes the departure of its global credit card chief.

U.S. authorities are forced to take action on some shady dealings up north; the Systemic Risk Council says weaker capital rules could deflate bank equity.

Sensing an opportunity in the small-business credit card market, Stripe is setting out to outflank big banks by offering application programming interfaces to enable its clients to issue their own physical and virtual credit cards.

Hochschild, the current president and chief operating officer, has been with Discover for 20 years, and will retain his title as president upon assuming the CEO role on Oct. 1. Nelms (pictured) will continue as executive chairman until his retirement early in 2019.

While mass transit has long been seen as a potential catalyst for changing payment habits, it's apps such as Uber, Grab and Lyft that are making the biggest difference in how people pay for transportation.

The trend poses challenges for banks, which have long required customers who want fees waived to put in their own effort.

Sensing an opportunity in the small business credit card market, Stripe is setting out to outflank big banks by offering APIs to enable its clients to issue their own physical and virtual credit cards.

A new study shows transactions with credit union plastic on this year's Amazon Prime Day were up 41 percent.

Stock options offered employees during the financial crisis are now worth $3 billion; the JPM CEO says he talked with Jeff Bezos about a job two decades ago.