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Providers such as Klarna, Clearpay and PayPal will be required to give consumers key information about their loans and issue credit that is affordable, while users will have the right to take complaints to the Financial Ombudsman Service.
February 14
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Dozens of vendors are joining real-time settlement networks from the Federal Reserve and The Clearing House. These partnerships are the first step toward making both systems interoperable.
February 14
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The payments company said the Consumer Financial Protection Bureau has closed a probe it began in 2020 after a consumer advocacy group accused PayPal of offering students at for-profit universities high-cost financing for unaccredited courses.
February 13
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As a stand-alone company, Worldpay will have more leeway to pursue mergers and acquisitions, FIS CEO Stephanie Ferris says.
February 13
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Super Bowl spending spikes, Openpay closes, Mastercard takes aim at gamers, and more in banking news this week.
February 10
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PayPal is pausing work on the project as regulators increase scrutiny of cryptocurrencies and a key partner faces a probe by the New York State Department of Financial Services.
February 10
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Coinbase shares fell the most in more than six months after rival Kraken was forced to stop providing an investment service also offered by the largest U.S. cryptocurrency exchange.
February 10
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Sluggish single-digit e-commerce growth drove PayPal to postpone its forecast for the coming year, as CEO Dan Schulman, who plans to retire this year, itemized further cost cuts.
February 10
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Schulman, president and CEO of PayPal since 2014, will leave at the end of 2023. He will continue to serve on the company's board and will join in its search for a successor, the company said.
February 9
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The Dutch fintech company's hiring plans stand out amid a wave of tech industry layoffs as funding slows.
February 9
