Brendan Pedersen

Union Savings Bank’s new technology is helping the bank compete with larger competitors and attract younger customers, its leaders say.

House Financial Services Committee Chair Maxine Waters is the second top Democratic lawmaker to dress down the megabank in recent weeks. Senate Banking Chair Sherrod Brown wrote a similar letter to Wells Fargo CEO Charlie Scharf in late May.

A long-running conservative push to undercut federal regulatory authority could shake the foundations of U.S. banking law, for better and worse.

The Biden administration’s continued extension of a student loan payment moratorium and the uncertain future of a debt forgiveness plan are causing confusion and uncertainty.

The bank is using a recent fintech acquisition to embed its services in merchant categories like health care and philanthropy, which have typically lagged in the move to digital commerce.

The letter from House Financial Services Chair Maxine Waters and Rep. Al Green points to laws passed by some state and local legislatures where financial institutions have been required to disclose whether they had ever profited from slavery in order to operate in their jurisdiction.

The National Credit Union Administration barred three former credit union employees from participating in the affairs of any federally insured depository institution.

Paul Stoddart joins the U.K. company at a crucial time. A specialist in account-to-account transfers, GoCardless sees an opportunity to capitalize on friction over interchange rates.

Card issuers have pushed for more direct access to iPhones for years, and with the tech giant’s policies facing fresh political and legal heat, Wells Fargo exec Ukrike Guigui says a more open mobile payment market would benefit merchants and consumers.

The New York credit union is using robotic process automation tech from Blue Prism to handle time-consuming tasks related to data entry, collections and other needs. This frees up its employees to focus on the organization’s expansion.

The global microchip shortage is being exacerbated by Russia’s war in Ukraine and the COVID lockdowns in China. Experts are warning of an impending strain on the manufacture of cards and point-of-sale hardware.

Anchorage Digital Bank has an inadequate AML compliance program and will have to create a committee within 15 days to develop a remediation plan and submit progress reports, according to the Office of the Comptroller of the Currency.

The Wisconsin company is the latest bank to plan cutbacks in the fees. Its fee income is projected to fall by about 2% from its level last quarter.

The company had accepted a $60 million naming rights deal from Meta Platforms — the social media giant’s new brand.

PayPal is making it possible to “Venmo” an income tax payment, while GoDaddy is taking aim at simplifying sales tax calculations for its merchant clients.

The digital payment company, which recently got back into digital assets after a multiyear hiatus, has launched a suite of merchant services and industry partnerships to support payments and risk management.

The change in branding reflects a shift in priorities for the retail credit card issuer, which saw several clients face bankruptcy during the pandemic.

As Mastercard Installments nears launch, the card network is lining up tech partners to connect issuers to its buy now/pay later ecosystem.

The children’s research hospital is tapping into the fast-growing market for digital currency donations and NFT sales to appeal to millennials, who are more likely to have crypto investments.

Visa and Mastercard are set to cut interchange rates for some transactions, but merchants argue that they will still pay more overall and want Congress to put a stop to the card networks’ plan.