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Top banking trades have thrown their support behind the central bank's argument that it has discretion over access to its payments systems. Custodia is seeking to appeal a lower court ruling that affirmed that discretion.

If the government forces the card giant to reduce control over security gateways, firms that sell debit processing and adjacent payment tools to banks such as FIS and Fiserv could cash in.

The Federal Deposit Insurance Corp.'s proposed rule on brokered deposits would be a step backwards for the agency and the industry it regulates.

Democratic Gov. Gavin Newsom signed measures designed to bolster consumer protection rules. The bills target several issues that have also been percolating at the federal level.

The company has signed an agreement to sell Continental Finance its entire card portfolio.

Interchange fees and financial incentives for merchants, banks and mobile wallets could come under pressure if the government forces the card brand to alter its policies.

Three of the companies that were part of the FTC's sweep, Operation AI Comply, charged consumers to open online storefronts that generated little money compared to what was promised.

Dealmakers say the Federal Reserve's decision to reduce interest rates this month will lower borrowing costs and support banks' credit quality, making it easier for buyers to assess sellers' balance sheets and agree on sale terms.

The San Francisco-based bank has submitted a third-party review of its risk and control overhauls for the central bank's analysis and sign-off, according to people familiar with the matter.

Federal Reserve Vice Chair Michael Barr announced upcoming regulations requiring large banks to preposition collateral at the Fed's discount window and maintain minimum reserves based on uninsured deposit levels.