Economic news

Banks stocks have declined as the yield curve shrinks; the companies will offer a co-branded small-business card.

The S&P 500 Financials Index fell for the 12th straight day Tuesday amid concerns that the flattening yield curve will suppress banks' second-quarter profits.

Founded in 1971, First Data may not have the glow of being a trendy startup. Green Dot, founded in 1999, is in the same boat. But under the hood both companies have done much to keep up with the innovators.

PayPal can combine its payment service, Braintree and Hyperwallet for a variety of use cases for online marketplaces and gig economy workers.

As the gig economy balloons, a private network is adding partners and geographies to separate itself in a fintech-dominated market.

The world’s most profitable car manufacturer is investing $1 billion in Singapore’s Grab Holdings Inc., valuing Southeast Asia’s largest car-hailing service at just over $10 billion.

Subscribing to simplification at the expense of nuance is hugely counter-productive, and will alienate both existing and potential customers, writes Elina Mattila, executive director at Mobey Forum.

The deal could be harmful to their bottom line because it will provide Amazon with more visibility into an even wider percentage of their e-commerce data, writes Ralph Dangelmaier, CEO of BlueSnap.

The panel will vote on economist Richard Clarida to be vice chairman of the Fed board and Michelle “Miki” Bowman to take a seat designated for a community banking expert.

Comdata has been processing corporate payments for almost 50 years, paying truck drivers through a proprietary fuel card network. But its next chapter could be its toughest.

Fintechs are entering the market to close the time gap in gig economy payments between businesses and consumers. This will fundamentally change business models for banks, according to Lauren Reuf, a research analyst at Nvoicepay.

Yet another economist is warning credit union professionals that the economic tides could shift dramatically in less than 18 months.

Intuit has added new features to QuickBooks Payroll so employers can make payroll at the last minute, delivering same-day paychecks to workers with the option to make direct deposits to contract employees.

The London interbank offered rate will likely be replaced by a new reference rate that critics say is better suited for the derivatives market than it is for commercial lending.

As the Fed continues to hone post-crisis tools, its chairman said central banks cannot take their independence for granted.

Phishing is the likely culprit behind the recent Saks and Lord & Taylor breaches. Stronger email protection required to combat the threat, according to Matthew Vernhout, 250ok's director of privacy.

At least two cryptocurrency companies, Coinbase and ivyKoin, have talked to federal regulators about obtaining a bank license, but there is skepticism that it will happen. Here's why.

Visa Canada plans to offer real-time B2B and B2C disbursements via its Visa Direct card-to-card transfer service, competing head-on with Canada's Interac network and a product Mastercard launched in the country earlier this year.

Banks feeling the pressure in commerical lending from lightly-regulated, cash-flush competitors; financial institutions take "an increasingly militarized approach" to fighting cybercrime.

The reality behind the confusing "05: Do Not Honor" refusal is some issuers (or their processors) do a poor job of returning the appropriate refusal reasons to the merchants, writes Chris Laumans, product owner at Adyen.