January 26, 2023
PayPal Remains Money-Storing App to Beat for Banks
Money-storing apps are going mainstream, and although PayPal leads in consumer popularity, financial institutions (FIs) may have a major opportunity to leverage the trust they have earned and build loyalty...
January 26, 2023
FTX’s 116-Page Creditor List Includes Netflix and Apple
A newly released list of FTX’s creditors reveals the scope of the bankrupt cryptocurrency company’s collapse. The 116-page document, filed by the company late Wednesday (Jan. 25), shows that FTX...
January 23, 2023
Big Banks to Launch Apple Pay Competitor in 2023 H2
America’s biggest banks are reportedly launching a digital wallet to take on Apple and PayPal. The banks are developing a product that will let consumers make online purchases with a...
January 20, 2023
CFPB’s Busy 2023 Has Overdraft Fees, Financial Data on the...
Right out of the gate, the Consumer Financial Protection Bureau (CFPB) has had a busy 2023. The pace won’t slow as the year goes on, with small business lending, nonbank...
January 19, 2023
Global CBDC Real-Time Payment Network Launches in Davos
Leave it to the lofty inspirations of the World Economic Forum to come up with the Universal Digital Payments Network. This, as the new cross-border digital currency payments portal made...
January 18, 2023
Big Bank Earnings Spotlight Unstoppable Digital Shift
Big banks’ earnings have shown the great financial services digital shift continues. J.P. Morgan, Bank of America, Citi and Wells last week provided variations on several themes: A mild recession...
January 13, 2023
Wells Fargo: Credit Card Revenues up 6% as Consumer Spending...
The $3.7 billion settlement with the Consumer Financial Protection Bureau (CFPB) hit Wells Fargo’s profits. But the bank’s management was sanguine Friday (Jan. 13) on digital initiatives and consumers’ continued embrace...
January 12, 2023
LendingClub Cutting 225 Jobs as ‘Historic’ Rate Hikes Throttle Demand
LendingClub is cutting 225 jobs as demand for loans falls due to rising interest rates. The cuts — which amount to 14% of the digital marketplace bank’s workforce — come...
January 12, 2023
The Best Reading on Consumer Spending and Sentiment Will Come...
Starting tomorrow, Wall Street will focus on how banks view inflation, the stock market and bond trading. But as earnings kick off on Friday (Jan. 13), the marquee names in...
