Fintech

Leading institutions with assets between $10 billion and $50 billion say growth strategies outside their traditional geographic bounds drove strong returns in 2021 and have steeled them for this year's challenges.

The company says it will streamline its United Kingdom operations to focus on private banking and wealth management to serve affluent clients in that market.

Credit Suisse Group denied it's considering exiting the U.S. market following a Reuters report that the Swiss bank was weighing such a withdrawal for its investment bank.

Banks including Wells Fargo, Bank of America and JPMorgan Chase have pulled back on financing for offices and other commercial real estate following a record burst of lending in the first half of this year. 

Three years after expanding into credit cards, Goldman Sachs has quietly signed up a third partner, T-Mobile US.

More U.S. consumers are saddled with credit card debts for longer periods of time, according to a survey, struggling to pay down amid high inflation and rising interest rates.

Late penalties on credit cards are set to rise 9% in 2023 under current rules that allow for increases tied to the Consumer Price Index. But Consumer Financial Protection Bureau Director Rohit Chopra says he wants to issue a regulation that could undo that inflation-related exception to limits on fees that banks may charge cardholders.

The International Standards Organization's approval of a new merchant category code for gun and ammunition sales paves the way for credit card networks to begin flagging suspicious weapons sales to law enforcement agencies.

The average rate on variable-rate cards rose above 18% this week, the highest level since 1996, according to data from Bankrate.com. The industry has been enjoying large profits, which has caught the attention of the Consumer Financial Protection Bureau.

The credit-cards-as-a-service model allows small banks to develop more products — and keep more revenue — than they had when working with agent banks.