The bank faces $250 million in fines and reimbursements for illegal business practices, which may dampen consumer trust
The Fed’s supervision chief laid out his vision for stricter capital requirements and stress tests. Here’s what it means for banks already on edge.
Arecession would put more than $200 billion in credit card issuer revenues at risk. Issuers must be fully prepared for weakened consumers hobbled by unemployment, depleted savings, and extra debt payments. And they should prepare for the toll that deteriorating credit card spending and loan risk could take on charge-off rates, merchant fee revenues, and interest income
On today’s episode, we discuss how Gen Zers are different from older generations in that a lot of their financial services product consumption will be embedded within non-financial service-specific experiences. In our "Headlines" segment, we examine how convenience plays a major factor into Gen Z decision-making. In "Story by Numbers," we discuss Gen Z’s use of Apple Pay in consumer finance and if consumers can find competitive prices while using embedded finance experiences. And in "For Argument's Sake," we debate if more than 10% of Gen Z or Gen Alpha will go their whole lives without establishing direct relationships with financial service providers. Listen in to the conversation with host Rob Rubin and our analysts Grace Broadbent and Eleni Digalaki.
Banks will start posting their Q2 results on Friday. Here’s what to keep an eye out for.
The admission will not help the digital challenger as it endeavors for a UK banking license.
Both Amazon and its payment partners can benefit from the massive sales event
The bank will nab the portfolio from Barclays in 2025. Here’s how it could benefit from Lufthansa’s massive customer base
Meta under fire for bank fraud on its platforms: Facebook, Instagram, and WhatsApp are attracting financial scammers. Regulation and reputational risk make fraud prevention a wise tech investment.
They partnered with EV charging platform Virta to become early market movers
The fintech seems more like a future customer acquisition ploy for banks.
The program also includes automatic daily redemption, another highly valued cash-back feature
But the company wants to keep the in-demand returns capabilities, so it partnered with provider Loop
The licenses could help Twitter bring in as much as $1.8B by 2028
Mastercard AI solution helps nine UK banks predict and prevent scams: With FedNow due any day, combating fraud in real-time payments has taken on a new urgency.
Student loan payment resumption could shock unprepared borrowers: But it’s an opportunity for financial institutions to do some proactive outreach and strengthen their customer relationships.
Automated translation is only the beginning: We look at how financial institutions are catering to the growing Hispanic US population and advancing financial inclusion.
Consumer banking behaviors are shifting—and not always in banks’ favor.
The real-time payments system could create a loss of interchange revenue and other challenges—but that’s not stopping them from signing up for it
Data Connect for Marketing helps merchants use first-party data to make more targeted and successful marketing campaigns