Fintech

Santander joins Iberpay as the first supporters of the European Payment Council's instant account-to-account network, Australian lawmakers approved bills to create a federated digital identity system, and more.

Irvine-based CBC Bancorp's $121 million deal for Bay Community Bancorp in Oakland stands out at a time when high rates have put a damper on both the number of deals taking place and the multiples sellers are paying.

At an industry conference, Consumer Financial Protection Bureau Director Rohit Chopra said he was open to suggestions on how to increase choice and competition to benefit mortgage lenders and borrowers.

One year after it bought First Republic Bank, the largest U.S. bank by assets is launching J.P. Morgan Private Client, a new tier in its affluent-consumer services that brings together JPMorgan's brand with First Republic's concierge model.

The Florida-based bank, which has been expanding across the South, would enter major markets such as Dallas and Houston with its planned all-stock acquisition of Independent Bank Group.

CEO Kevin Cohee is convinced WiseOne, the AI companion OneUnited Bank rolled out late last year, can help customers make better financial decisions. Cohee also wants to see his passion for personal fiscal improvement play to a wider audience, through development of a nationwide financial literacy curriculum.

Amex is working with Worldpay to reach businesses in the U.K., Western Union has resumed remittances to Cuba after shutting down that corridor in 2020, and more.

The number of borrowers who are at their credit limits is approaching its pre-pandemic level, and the percentage of balances that are sliding into delinquency has hit its highest rate in more than a decade, according to new research. Still, card companies are generally expressing optimism about their credit outlooks.

Stearns Bank in Saint Cloud is working with the on-demand payment technology firm Reset to launch an earned-wage card for blue collar and immigrant families struggling with access to money.

Regulation, credit quality and AI-fueled fraud are among the big concerns for banks and payment companies.