Fintech

The Bank of Japan's interest rate hike and plan for quantitative tightening have international markets scrambling to adjust to a new reality in which carry trade credit is tighter and a U.S. downturn is somewhat more likely.

The payment option has grown beyond underbanked consumers. For issuers, a $1 trillion market is at stake.

Key's Head of Commercial Banking Ken Gavrity sits down with Editor-in-Chief Chana Schoenberger

The store-branded credit card company revised its revenue guidance upward on the assumption that the CFPB's late-fee cap won't take effect before 2025. Still, Bread is moving ahead with plans to make up some of the revenue that it stands to lose from the contested rule.

The big box retailer's move comes amid a broader decline for the traditional payment option.

The credit card giant increased its allowance for credit losses by more than $800 million following the termination of a partnership with Walmart.

The Alabama-based bank also said that its outlook for net interest income is brightening. Several other regional banks have offered similarly upbeat guidance in recent days.

The credit card company is seeing fewer customers fall behind on their payments. But with lower-income consumers still being pinched by inflation, Synchrony isn't loosening its lending standards.

The credit card giant says its proposed acquisition of Discover would facilitate a bevy of community development activity and philanthropy. But some public advocacy groups are skeptical.

The Chinese technology giant is partnering with BNP Paribas to reach more merchants; Sequoia makes an investment offer that could boost confidence in Stripe; and more.