Fintech

The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.

The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.

Google has launched its Agent Payments Protocol, an open protocol that establishes a payment-agnostic framework for users, merchants and payments in agentic AI. Payment companies such as Adyen, American Express, Mastercard and PayPal helped develop the protocol.

The global fintech has said it will invest more than $500 million in the US in the coming years, and it expects to create hundreds of jobs.

The cross-border transfer platform is broadening its business model with a subscription-based membership and products like a digital wallet and cash advances.

The bank is selling a bundle of products that enable businesses to store global currencies inside the U.S. in FDIC-insured accounts, lowering foreign exchange risk and reliance on third parties.

A recent court ruling found that the Federal Reserve had grossly overstepped in its implementation of the Durbin Amendment. The resulting changes to interchange fees will dramatically shift the debit card landscape.

The Treasury Department has designated Fifth Third as the financial agent for its Direct Express prepaid card program. The decision marks a reversal from late last year, when BNY reached a five-year agreement with Treasury.

The Columbus, Ohio-based regional bank announced plans to acquire Dallas-based Veritex Financial in July. On Monday, a Huntington executive called the deal a "springboard" for additional organic growth.