Payments: Page 7
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Truist execs pledge expense discipline
While the bank is “fully committed” to keeping expenses flat this year compared to last, Truist is spending to bolster its payments and middle market lending teams, CEO Bill Rogers said Monday.
By Caitlin Mullen • July 22, 2024 -
Chris Hondros / Staff via Getty Images
JPMorgan Chase invests in B2B payments startup Slope
The bank’s payments unit and Y Combinator were among investors providing $65 million in financing for the business-to-business upstart this month.
By Lynne Marek • July 22, 2024 -
Explore the Trendline➔
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TrendlineM&A
President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.
By Banking Dive staff -
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Sponsored by Form3Why orchestration is a key driver in payment modernization
Payment orchestration solutions give banks flexibility and control around what happens for each payment type they handle.
July 22, 2024 -
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Capital One-Discover deal critics, supporters sound off
Executives with the two companies and a number of community groups spoke in favor of the $35.3 billion merger Friday, while a raft of critics urged regulators to block the deal.
By Caitlin Mullen • July 19, 2024 -
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CFPB to apply lending laws to EWA
The federal agency weighed in Thursday with a proposed rule to oversee the burgeoning earned wage access industry.
By Lynne Marek • July 18, 2024 -
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Opponents of Capital One-Discover merger to air grievances
Consumer advocates say the tie-up will stifle competition and give the combined company an easy avenue to raise fees on card payments.
By Patrick Cooley • July 18, 2024 -
Scott Olson / Staff via Getty Images
Discover to sell student loan portfolio to Carlyle, KKR in $10.8B deal
The student loan sale is the latest loose end Discover seeks to tie up since Capital One announced its intent to purchase the card company.
By Caitlin Mullen • July 17, 2024 -
Lynne Marek/Banking Dive
FedNow zooms past RTP participation in inaugural year
The Federal Reserve’s nascent instant payments system has collected hundreds of bank participants across the country in its first year of operations, although a few major banks are holdouts.
By Lynne Marek • July 17, 2024 -
Courtesy of BNY Mellon newsroom
Banks should proactively tackle instant payments fraud: BNY
Use of data-sharing protocols among banks could warn customers before they send money, said Carl Slabicki, a BNY executive.
By Suman Bhattacharyya • July 12, 2024 -
Win McNamee / Staff via Getty Images
Lawmakers egg on US payments system expansion
A bipartisan group is nudging the Federal Reserve to explain why it can’t speed up a plan to extend the operational availability of the U.S. payments system.
By Lynne Marek • July 8, 2024 -
Scott Olson via Getty Images
Discover to settle card misclassification class actions for $1.2B
The card company has warned it could face further financial toll related to the issue, in which it overcharged merchants for years.
By Caitlin Mullen • July 8, 2024 -
matt_benoit via Getty Images
Silvergate pays $63M to settle with SEC, Fed, California regulator
The company and two of its executives settled allegations against them. Silvergate’s former CFO, however, did not, and eyes a civil trial.
By Gabrielle Saulsbery • July 2, 2024 -
Permission granted by The Federal Reserve
Sponsored by Federal Reserve Financial ServicesHere’s how the FedNow® Service answers the need for fast, safe and reliable instant payments
A new survey released by the Federal Reserve shows that among all the choices, faster and instant payments are growing in demand.
July 1, 2024 -
VersaBank’s cross-border acquisition of Minnesota lender gets final nod
Canada’s Office of the Superintendent of Financial Institutions approved the transaction this week, after the Fed and OCC green-lighted the tie-up.
By Dan Ennis • June 28, 2024 -
whyframestudio via Getty Images
Chuck morphs into a new Alloy Labs-backed effort
Community banks partnered with Alloy Labs and Payrailz a few years ago on a project called Chuck, in a bid to rival Zelle, but that effort has been subsumed by a stealthy successor.
By Lynne Marek • June 27, 2024 -
Dan Kitwood / Staff via Getty Images
Crypto firm Abra settles with 25 states for operating without a license
Abra agreed to repay customers some $82 million in crypto. CEO Bill Barhydt said all but $2 million, yet to be claimed, has been repaid.
By Gabrielle Saulsbery • June 27, 2024 -
Spencer Platt / Staff via Getty Images
Bank of America zeroes in on innovation with business banking app
The team behind the bank’s CashPro app aims to stay a step ahead of rivals, in part by working closely with clients on improvements, said Jennifer Sanctis, the app’s product head.
By Caitlin Mullen • June 24, 2024 -
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JPMorgan’s chief payments exec hired by Fiserv
The bank announced Takis Georgakopoulos's departure this month "to pursue an opportunity outside the firm," but it didn't detail, at the time, where he was going.
By Patrick Cooley • June 21, 2024 -
Mario Tama via Getty Images
Citi leans on services business amid turnaround
At an investor event Tuesday, bank executives said the services business, which helps about 19,000 clients around the world manage and move money, is at the heart of Citi’s strategy.
By Caitlin Mullen • June 18, 2024 -
Denis Tangney Jr. via Getty Images
Gemini to settle with NY AG for $50M
The $50 million in digital assets will go directly to investors of its defunct Gemini Earn program, who will be made whole, according to the settlement.
By Gabrielle Saulsbery • June 17, 2024 -
Courtesy of Apple
Apple unveils new iPhone touch and pay feature
The P2P ‘Tap to Cash’, which enables iPhone users to transfer money by holding their phones together, was unveiled along with a slate of other features Monday.
By Patrick Cooley • June 12, 2024 -
whyframestudio via Getty Images
Rivals Adyen, Stripe partner with Capital One to combat fraud
The three companies announced last Wednesday that they are teaming up to launch a free service intended to combat fraud and reduce the amount of transactions that are improperly declined.
By Patrick Cooley • June 10, 2024 -
Michael Nagle / Stringer via Getty Images
Top JPMorgan payments executive exits
Takis Georgakopoulos, a 17-year veteran at the bank, will be replaced by Umar Farooq and Max Neukirchen, who were promoted to co-head roles.
By Lynne Marek • June 4, 2024 -
Leon Neal / Staff via Getty Images
Former FTX exec Ryan Salame sentenced to 7½ years
He originally faced up to 10 years in prison, following guilty pleas to two counts in September. Prosecutors, however, suggested he serve five to seven years.
By Gabrielle Saulsbery • May 28, 2024 -
Justin Sullivan / Staff via Getty Images
Visa preps for US pay-by-bank services
The card network is focused on “stubborn categories” where large account-to-account payments have taken hold, such as in healthcare, education and rent, a Visa executive said.
By Lynne Marek • May 28, 2024
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