The Federal Deposit Insurance Corp. (FDIC) is reportedly in talks with potential buyers for Republic First Bancorp., a Philadelphia regional bank that does business as Republic Bank. The regulator is approaching potential buyers and seeking bids for the bank, which has traded at a market value of less...
Today’s customers of the FinTech industry are no longer asking just for ways to accept online payments; they’re asking for “software-defined financial services.” So said Stripe co-founders Patrick Collison and John Collison Wednesday (April 24) during the opening keynote of the company’s annual user conference held in San Francisco. While they...
An integral aspect of the retail cycle, returns have surged in recent years with the growth of online channels. However, accompanying this increase in returns is a concerning trend: the escalation of returns fraud and policy abuse. According to a report by the National Retail Federation (NRF), retailers encountered...
Investors reportedly expect increased competition in the grocery sector after Amazon’s announcement Tuesday (April 23) of a new grocery delivery subscription benefit. Walmart and Kroger shares declined 1.8% and 2.3%, respectively, Tuesday, in moves that UBS analyst Michael Lasser said showed that investors interpret Amazon’s announcement as a sign of greater competition, Seeking...
Uber for Business has designed a new tool to make it easier for executive assistants (EAs) to arrange corporate travel. The company’s new delegate profiles enable EAs to manage ground transportation for executives on their behalf, Uber for Business said in a Wednesday (April 24) press release. With...
As consumers look to buy clothing online, PYMNTS Intelligence research reveals that digital shoppers are increasingly turning to Amazon to meet their apparel needs. By the Numbers The PYMNTS Intelligence study “Whole Paycheck Report: New Consumer Spend Data Finds Amazon Way Ahead of Walmart” estimates each...
Toy and game companies are seeing sales declines, as parents opt to spend on making memories for their children rather than on new products for them. Toys and entertainment giant Mattel, for instance, reported in its first-quarter 2024 financial results Tuesday (April 23) that net...
TikTok has suspended a rewards program on TikTok Lite amid a dispute with European Union (EU) regulators. “TikTok always seeks to engage constructively with the EU Commission and other regulators,” the TikTok Policy Europe account said in a Wednesday (April 24) post on X (formerly Twitter). “We are therefore...
America’s consumer finance watchdog is targeting “junk fees” in the mortgage industry. The Consumer Financial Protection Bureau (CFPB) published findings Wednesday (April 24) showing that mortgage servicers — the companies responsible for processing mortgage payments — had charged illegal fees, sent deceptive notices to homeowners and violated loss mitigation rules that...
