Fintech

Sens. Ted Cruz, R-Texas, and Katie Britt, R-Ala., offered a new bill that would index the Durbin Amendment's debit fee threshold to inflation. The bill joins a number of community bank-centered bills offered or moving through Congress

The sports betting company said it would stop accepting credit card deposits for its sportsbook, casino and racing products in the U.S. Wagers placed using credit cards are typically more expensive than those made with other forms of payment.

Delinquencies on credit-card debt mostly held steady at the end of last year, but certain groups of consumers are faring better than others.

In a future world where AI agents transacting in stablecoins are a major factor in the U.S. economy, the Fed's traditional metrics for identifying an economic downturn will leave policymakers dangerously behind the curve.

This month, Bank of America plans to unveil new incentives for cardholders with higher account balances. Reworking the rewards program is one lever the firm is pulling in its effort to lift the annual profit of the consumer unit to $20 billion by the end of the decade.

The search giant has added Klarna to its growing list of companies that are supporting standards for agentic commerce. Also, Payoneer has added Indonesia and Mexico to its collections network and more in American Banker's global payments and fintech roundup.

President Donald Trump's support of legislation that would cap credit card interest rates at 10% has flagged in recent weeks, but experts say that the debate has highlighted significant gaps in regulators' understanding of the credit card market and how its risks are priced.

The Long Island-based bank returned to profitability during the fourth quarter of 2025. The results mark "a significant milestone" in the bank's turnaround plan, CEO Joseph Otting said.

The credit card issuer said it had little to add to widespread discussions regarding the Trump administration's proposed 10% cap on credit card interest rates.

Federal Reserve Chair Jerome Powell said recent data suggests less tension between the employment and inflation sides of the central bank's dual mandate, reducing the need for an immediate policy change.