Rivals may chase Fiserv special bank charter lead

If the payments giant receives a special Georgia charter and gains access to the card networks, it could open the floodgates for other merchant acquirers, attorneys said.

By Caitlin Mullen • Jan. 25, 2024

Carlyle expands its reach on student loans as banks back out

The private-equity firm bought a $415 million portfolio, reportedly from Truist, and invested in student loan specialist Monogram.

By Dan Ennis • Jan. 25, 2024

Explore the Trendline➔

Bank and fintech partnerships

A partnership can be a broad hand-up from a giant bank, a targeted effort to fix a societal issue, or a strategic miscalculation.

By Banking Dive staff

Novo rolls out an embedded payroll tool for small businesses

Powered by Check, the new tool, Novo Payroll, aims to help small businesses manage their finances from a single platform.

By Rajashree Chakravarty • Jan. 24, 2024

Klarna adds subscription plan

With an IPO on the horizon, the BNPL firm is offering customers a subscription service for $7.99 per month.

By Caitlin Mullen • Jan. 24, 2024

Jack Henry vaults COO to CEO seat

Greg Adelson, the company’s current president and chief operating officer, will take the reins from outgoing CEO David Foss in July.

By James Pothen • Jan. 23, 2024

Binance, SEC face off in court

For the second time in one week, the Securities and Exchange Commission sought to convince a judge that crypto is a security, and a crypto company sought to convince her of the opposite.

By Gabrielle Saulsbery • Jan. 23, 2024

Synchrony to buy Ally’s point-of-sale lending unit

The deal, expected to close this quarter, includes relationships with nearly 2,500 merchant locations and more than 450,000 active borrowers in home improvement services and healthcare, the companies said.

By Rajashree Chakravarty • Jan. 23, 2024

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

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