FedNow draws some banks, as others lag

The Federal Reserve is building up bank participation in FedNow, but big financial institutions such as Bank of America, Citi, PNC and Capital One, remain on the sidelines — for now.

By Lynne Marek • Jan. 19, 2024

Coinbase, SEC face off in court

Coinbase is seeking the dismissal of an SEC lawsuit which accused the crypto exchange of trading more than a dozen tokens that should have been registered as securities.

By Gabrielle Saulsbery • Jan. 18, 2024

Explore the Trendline➔

The Banking Dive Outlook on 2022

Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.

By Banking Dive staff

Visa picks fintech startups for accelerator

A debt repayment app startup and a small business lender are among the U.S. startups selected by the card network and its partner this year.

By Tatiana Walk-Morris • Jan. 17, 2024

Fiserv seeks special-purpose bank charter

The designation would allow the payment processor to own transactions from end-to-end, removing the need for a bank partner.

By Caitlin Mullen • Jan. 12, 2024

X plans payments launch for this year

“I would be surprised if it takes longer than the middle of [2024] to roll out payments,” X owner Elon Musk said during a conversation last month with Ark Invest CEO Cathie Wood.

By James Pothen • Jan. 10, 2024

Remitly taps ads to woo new clients

The cross-border payments company has boosted marketing to build up its remittance clientele.

By Lynne Marek • Jan. 10, 2024

Visa leans on fintech partners

Teaming with emerging fintechs is “a way of staying very, very relevant,” said Jim Schinella, Visa’s global head of digital partnerships.

By Caitlin Mullen • Dec. 20, 2023

U.S. Bank fined $36M over freezes of COVID-era unemployment benefits

The Minneapolis-based lender flagged a CFPB probe into prepaid card use last year. The OCC added a separate penalty Tuesday.

By Dan Ennis • Dec. 20, 2023

Don’t know what a digital wallet is? We’ve got you covered.

This primer fills in the gaps on how digital wallets work, what companies compete to provide such payment tools and what to expect from them in the future.

By James Pothen • Dec. 20, 2023

FTX files plan to end its expensive bankruptcy

The plan values assets at their Nov. 11, 2022, rate, which is much lower than their value today. Bitcoin, for example, has more than doubled in price since then.

By Gabrielle Saulsbery • Dec. 19, 2023

Simon Khalaf channels energy into scaling Marqeta

The Marqeta CEO is tasked with taking the card-issuing fintech to the next level amid increased competition and an uncertain economic climate.

By Caitlin Mullen • Dec. 18, 2023

Fraud emerges as concern for FedNow users

The Federal Reserve is weighing additional fraud-fighting tools as it takes feedback from users of the new instant payments system.

By Lynne Marek • Dec. 15, 2023

Google Pay taps Affirm, Zip for BNPL

The tech giant has linked with the buy now, pay later companies to develop installment payment options to be offered next year.

By Caitlin Mullen • Dec. 13, 2023

FedNow may have spurred RTP adoption

The number of banks participating in The Clearing House’s real-time payments network surged this year after the launch of the rival FedNow system.

By Lynne Marek • Dec. 13, 2023

The Clearing House revamps leadership

Since his arrival in February, CEO David Watson has been remaking The Clearing House’s executive suite, with another appointment this week.

By Lynne Marek • Dec. 12, 2023

TD exec tapped as Discover’s next CEO

Michael G. Rhodes, previously the group head for Canadian personal banking at TD, will take the helm at Discover in March.

By Caitlin Mullen • Dec. 12, 2023

Discover to spend at least $500M on compliance next year

“We’re going to continue to invest whatever we have to invest in order to get the compliance issues behind us,” CFO John Greene said last week.

By Caitlin Mullen • Dec. 11, 2023

Amex CEO weighs in on Apple card reports

The card issuer’s premium designation isn’t compatible with all potential card issuing partners, Amex CEO Steve Squeri said Tuesday.

By Caitlin Mullen • Dec. 6, 2023

BNPL growth decelerates: Bank of America

The growth rate in the number of shoppers downloading buy now, pay later apps shrunk for this year's Thanksgiving shopping weekend compared to 2022.

By Tatiana Walk-Morris • Dec. 5, 2023

UK fintech Banked builds a US presence

The company expects its pay-by-bank services for bank clients will eventually lure retailers.

By Lynne Marek • Dec. 4, 2023

Who wants Apple’s credit card? Analysts weigh in.

Synchrony, American Express and Capital One have all been floated by analysts as potential successors to Goldman Sachs for Apple’s credit card.

By James Pothen • Dec. 1, 2023

SoFi exits crypto business

SoFi customers can liquidate their accounts, or choose to be migrated to Blockchain.com. If they do nothing, SoFi will liquidate the assets for them, to be transferred to their brokerage accounts.

By Gabrielle Saulsbery • Nov. 29, 2023

PayPal tackles chargeback fraud

PayPal is attacking illegitimate customer returns with new policies after a rise in e-commerce activity has fueled that type of fraud across the industry.

By Lynne Marek • Nov. 29, 2023

BNPL bolsters holiday weekend spending

The Black Friday through Cyber Monday shopping weekend was a boon for BNPL providers and payments companies such as Stripe and Square.

By Caitlin Mullen • Nov. 29, 2023

JPMorgan pushes up UK digital bank’s break-even timeline

The bank now expects its U.K. operation Chase to cross into the black in 12 to 18 months, at least two years ahead of a previous estimate, JPMorgan President Daniel Pinto said Tuesday.

By Dan Ennis • Nov. 29, 2023