Surprise overdraft and nonsufficient funds (NSF) fees account for a significant portion of the refunds to consumers by companies announced Wednesday (Oct. 11) by the Consumer Financial Protection Bureau (CFPB). These refunds of these fees make up $120 million of the total of $140 million...
The luxury goods sector may be facing a potential downturn, according to RBC Capital Markets. The investment bank said in a recent note that one of the key factors is the expectation of a consolidation of the strong gains that luxury goods makers have experienced in...
Businesses that trust each other, grow together. That’s why when it comes to digitizing the commercial payments ecosystem, solving for behavior is just as important as solving for capability — particularly when innovating within B2B payments. Familiarity, whether between buyers and sellers or in their...
Carefull secured $16.5 million in funding through a Series A round to grow its artificial intelligence (AI)-powered financial safety platform for senior citizens. Carefull will use the capital to expand its platform, establish new enterprise partnerships and advance its behavioral engine, the company said in...
Klarna has debuted an artificial intelligence (AI)-powered shopping tool with the help of OpenAI. The Swedish payments company announced the new feature Wednesday (Oct. 11) as part of a broader rollout of new shopping-related offerings. The flagship of these new products is the company’s shopping lens, which —...
Fake news is getting more real, and so is the problem for companies and their audiences. That’s because as the capabilities of generative artificial intelligence (AI) advance, the images and media that the models are able to produce are becoming more realistic, making it more...
Amazon has reportedly tested a “Buy Again” feature to entice shoppers into repeat purchases. The company has placed the new feature in a tab on the “most prized real estate” on its app home page, The Wall Street Journal (WSJ) reported Wednesday (Oct. 11). According to the report,...
President Joe Biden and the heads of the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) will announce new rules and regulations to crack down on junk fees across various industries on Wednesday (Oct. 11). Junk fees, which are hidden charges that companies add to customer bills, cost...
German shoe retailer Birkenstock has raised $1.4 billion in its initial public offering (IPO). The company set the price of its shares in the middle of the range it had initially sought, valuing Birkenstock at over $9 billion, The New York Times reported Wednesday (Oct....
