MasterCard will be issuing every adult in Egypt a mobile-based debit card account that will double as a national ID card, the card brand and the Egyptian government announced on Tuesday (March 3) at Mobile World Congress in Barcelona. Get the Full Story Complete the...
The biggest global banks, including HSBC, RBS and JPMorgan Chase, are taking drastic measures to reduce their costs — and in most cases their size — in the face of regulators’ efforts to make sure they can be unwound in case of another financial crisis,...
Airbnb is halfway to raising another billion dollars in funding, and bringing its total valuation to $20 billion, TechCrunch reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
Citigroup’s Banamex USA subsidiary is the subject of two more investigations for possible money laundering, the bank reported in an annual regulatory filing the SEC on Wednesday (Feb. 25). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
The Consumer Financial Protection Bureau wants to give credit-card issuers — and itself — a break. Specifically, on Tuesday (Feb. 24) the CFPB proposed a one-year break from the requirement that card-issuing banks submit their consumer card agreements to be published on the bureau’s website....
New York bank regulators are considering massive programs to audit large banks’ cybersecurity and anti-money-laundering (AML) systems, The Wall Street Journal reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
At a time when more and more U.S. consumers have credit histories that are thin or damaged, banks are turning to alternate ways of deciding the creditworthiness of potential borrowers — including the scoring systems of alternative lenders, according to American Banker. Get the Full...
As much of a problem as payday lenders can be, there are worse things — such as companies that tell consumers who are over their heads in payday loans that they’ll solve the problem, then take the consumers’ money and abandon them to the lenders’...
British payday lenders must publish the costs of their loans on comparison websites so consumers can shop for the best deals, the U.K.’s Competition and Markets Authority (CMA) announced on Tuesday (Feb. 24). Get the Full Story Complete the form to unlock this article and...
