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The card lender took full control of Swisscard from UBS; the Financial Conduct Authority is bringing installment lending regulations in line with other consumer financial products; and more payments news from around the world.

Consumer Financial Protection Bureau Director Rohit Chopra said opposition to the bureau's recently finalized open banking rule should be viewed as banks and other large firms attempting to quash competition and stymie consumer data protection.

McKinsey published a report Wednesday that found banks' technology investments equate to the gross domestic product of Sweden. But this spending is not leading to revenue growth, they and others say. 

The Southern California company beat analysts' expectations, partly by steadily paying less for deposits, as it navigates a classic net interest margin pickle.

The Consumer Financial Protection Bureau said Goldman Sachs failed to investigate tens of thousands of disputes, while Apple misled iPhone purchasers about interest-free payment options. The two companies were ordered to pay $89 million.

Y-12 Federal Credit Union in Oak Ridge, Tennessee, said it would acquire First State Bank of the Southeast in Middlesboro, Kentucky. It was the 19th such deal announced this year.

The danger for the central bankers is that "they go too fast or too slow and that risk is higher now than it was six months ago," BofA Chief Executive Brian Moynihan said.

Government, private companies and civil society must continue pushing the kinds of partnerships that put mobile financial technology into the hands of marginalized people around the world.

BofA had nearly 1,100 artificial intelligence and machine learning patents and pending applications within its portfolio at midyear, and more than half have been granted already.

Recently polled banking professionals held that Vice President Kamala Harris is the likely front-runner for the White House, but former President Donald Trump would be better for the industry.