Banking trade groups, including The American Bankers Association, have sued the agency, claiming it overstepped its authority regarding UDAAP enforcement.
Regions Bank paid $191M in fines and reimbursements for improper overdraft charges on ATM withdrawals and debit card purchases.
A Fed official has suggested updating bank merger rules that account for the proliferation of fintechs and nonbank entities in the banking system.
The Payment Systems Regulator’s proposal could restore trust in P2P payments and mobile wallets—and could serve as a model for US regulators.
The UK challenger bank recorded profitability for three consecutive months, crediting the milestone to its SME lending arm.
Eight banks and three other FIs will pay a combined $1.8B for their message retention failures, highlighting the need for better tech tools at work.
POS Go lets merchants accept cards and mobile wallets on the go and can appeal to those seeking unified commerce tools.
Neobanks and kid- and teen-focused fintechs are developing apps to attract young users as part of a combined digital and physical approach.