Banking: Page 44


  • Fed Reserve Chair Jerome Powell standing at podium and adjusting his glasses with his hand.
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    Fed majority votes to finalize debit rule

    In a 6-1 vote, the Federal Reserve finalized a debit card processing rule that underscores a requirement that multiple card networks be available for routing transactions, including online.

    By Oct. 4, 2022
  • Federal Reserve building in Washington, D.C.
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    Chip Somodevilla via Getty Images
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    Column

    Fed’s Bowman offers counterpoint on digital assets

    In recent public comments, Federal Reserve Gov. Michelle Bowman diverged from the views of her colleague Michael Barr on certain topics, including crypto policies.

    By Dan Ennis • Oct. 4, 2022
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    innni via Getty Images
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    Trendline

    Payments players eye digital B2B opportunity

    Companies offering digital payments services envision billions of dollars in U.S. business payments flow ripe for transitioning to the electronic realm.

    By Payments Dive staff
  • Sen. Durbin grimaces at committee meeting.
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    Durbin maps path for card bill

    Sen. Dick Durbin and his Republican ally, Sen. Roger Marshall, seek to attach their credit card competition legislation to a defense spending bill.

    By Oct. 3, 2022
  • Worker using point of sale system in coffee shop
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    time99lek via Getty Images
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    Fintechs gain ground in merchant acquiring

    New businesses are far more likely to opt for integrated software vendors over legacy providers, McKinsey discovered.

    By Caitlin Mullen • Oct. 3, 2022
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    Permission granted by Banked
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    Sponsored by Banked

    A real-time look into open banking

    Open banking has revolutionized financial transactions. Here’s a real-time look into the industry.

    Oct. 3, 2022
  • A picture of a woman standing inside a bakery.
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    Permission granted by Uber Eats
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    Visa, Uber issue $1M in grants to small business owners

    The Local Initiatives Support Corporation has selected 100 active Uber Eats partners, who are primarily business owners of color, to receive $10,000 grants.

    By Julie Littman • Sept. 30, 2022
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    Khaosai Wongnatthakan via Getty Images
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    Consumers tap BNPL for larger purchases

    Marqeta's report, which showed U.S. buy now-pay later use has climbed since last year, also points to consumers acquiring more credit cards.

    By Tatiana Walk-Morris • Sept. 29, 2022
  • Person uses credit card to buy online
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    Nastasic via Getty Images
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    Banks take stock of payment fraud threats

    Credit card fraud tops the list of growing threats, but P2P and newer payment vehicles are quickly catching up, according to a recent poll of industry executives.

    By Suman Bhattacharyya • Sept. 28, 2022
  • A picture of a woman holding up a credit card in front of a laptop.
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    DoorDash teams with Chase, Mastercard on credit card

    Co-branded cards have been proven to increase customer frequency, which could also deepen loyalty.

    By Julie Littman • Sept. 27, 2022
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    Opinion

    Busting the myths on FedNow

    Jessica Cheney, a vice president at Bottomline Technologies, aims to dispel myths about the meaning and impact of the coming Federal Reserve instant payment system.

    By Jessica Cheney • Sept. 27, 2022
  • PNC Bank
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    "PNC" by ParentingPatch is licensed under CC BY-SA 3.0
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    PNC buys restaurant point-of-sale firm Linga

    The Pittsburgh-based bank is boosting its payments footprint as banks from Banc of California to JPMorgan Chase are making similar large investments.

    By Anna Hrushka • Sept. 27, 2022
  • A person holds a credit card in front of a laptop computer.
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    Poike via Getty Images
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    Banc of California acquires Deepstack in payment processing play

    The acquisition will give Banc of California access to clients’ payment insight, which the bank hopes to use for credit purposes, said Jared Wolff, the bank’s president and CEO.

    By Anna Hrushka • Sept. 26, 2022
  • Bank CEOs sit in front of the Senate Banking Committee.
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    Drew Angerer via Getty Images
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    Bank CEOs defend Zelle in Senate hearing

    Sen. Elizabeth Warren called the peer-to-peer payments network “unsafe,” claiming Zelle users were defrauded out of $500 million last year.

    By Anna Hrushka • Sept. 23, 2022
  • The CEOs of the nation's largest banks face members of the House Committee on Financial Services.
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    Alex Wong via Getty Images
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    Republicans grill bank CEOs on merchant gun code

    GOP lawmakers, during a wide-ranging hearing Wednesday, demanded the CEOs of the nation’s top banks share how they plan to respond to a new category code for gun and ammunition retailers.

    By Anna Hrushka • Sept. 22, 2022
  • Visa cards stacked and splayed
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    Justin Sullivan via Getty Images
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    Visa eyes B2B, remittances for growth

    Visa is eyeing certain portions of the B2B market for near-term growth, the company’s chief financial officer said during a conference last week. It’s also building out its network for remittances.

    By Sept. 21, 2022
  • Small business owner talks on phone while standing at register
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    Profits slip for small businesses: survey

    Three in 4 small business leaders are feeling squeezed by inflationary pressures, American Express discovered, and more than half expect don’t expect inflation to subside until summer 2023.

    By Tatiana Walk-Morris • Sept. 21, 2022
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    Justin Sullivan via Getty Images
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    House lawmakers add credit card competition bill

    Members of Congress on Monday introduced the House companion to a Senate bill seeking to rein in the Visa-Mastercard credit network “duopoly.”

    By Caitlin Mullen • Sept. 20, 2022
  • Modern Treasury CEO Dimitri Dadiomov
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    Permission granted by Terry Banks
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    Modern Treasury, Goldman Sachs team up

    The two companies want to target mid-size firms that find it too complex to build their own embedded payments service.

    By Tatiana Walk-Morris • Sept. 19, 2022
  • Money transfer app on mobile device
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    MoneyGram CEO bullish on stablecoins

    The money transfer company’s brick-and-mortar business is being displaced by digital payments, mobile wallets and use of stablecoins as bridge assets.

    By Suman Bhattacharyya • Sept. 19, 2022
  • President Biden stands behind a lectern featuring the presidential seal.
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    Anna Moneymaker via Getty Images
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    Biden advances digital asset regulation

    The Biden administration wants the Securities and Exchange Commission and the Commodity Futures Trading Commission to “aggressively pursue investigations and enforcement actions against unlawful practices in the digital assets space.”

    By Anna Hrushka • Sept. 16, 2022
  • Entrance to CFPB building
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    The image by Ted Eytan is licensed under CC BY-SA 2.0
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    CFPB mulls rules for BNPL

    The Consumer Financial Protection Bureau is weighing new rules and guidance for the fast-growing buy now-pay later industry after wrapping up a comprehensive report on it.

    By Sept. 15, 2022
  • Stack of credit cards spread out
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    alexialex via Getty Images
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    Amex, Discover see lasting credit changes

    The chief financial officers at American Express and Discover each said this week that pre-pandemic credit metrics for delinquencies and charge-offs won’t soon return.

    By Caitlin Mullen • Sept. 15, 2022
  • Several Visa cards spread out on surface revealing company's logo.
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    Justin Sullivan via Getty Images
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    Visa raises concerns on new gun code

    Visa cautioned the public about perceiving a new merchant code for gun-sellers as a means to interfere with any lawful sales. And the NRA said it’s seeking to water down implementation of the new code.

    By Sept. 14, 2022
  • Fiserv CEO Frank Bisignano
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    Fiserv CEO downplays margin pressure

    CEO Frank Bisignano said expenses related to “synergy work” have tapered off, with benefits becoming visible in the second half of the year.

    By Caitlin Mullen • Sept. 14, 2022
  • Two kids running with shopping bags in front of two adults outside on a sidewalk near a building.
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    andresr via Getty Images
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    Holiday spending to rise 7.1%: Mastercard

    The big credit card company forecast an increase in spending by consumers for the yearend U.S. holiday shopping season. 

    By Tatiana Walk-Morris • Sept. 13, 2022