Merchant

The Georgia bank estimates that it will save $12 million annually by shutting down 40 branches.

U.K. authorities expect to recover as much as 2 billion pounds ($2.7 billion) of fraudulent COVID loans over the next year, Chancellor of the Exchequer Rishi Sunak said on Tuesday.

By acquiring First Sound Bank in Seattle, the fintech would control the strategic direction of the combined company and won't have to share revenue, CEO Luvleen Sidhu says.

Canadian Imperial Bank of Commerce is having a harder time keeping costs in check as inflation picks up and the lender invests in its domestic consumer franchise.

The e-commerce giant has threatened to ban Visa cards in the U.K., and its partnerships with the likes of Affirm and Venmo give it alternative ways to accept payments — and the means to make good on that ultimatum.

The regional banks are moving past old-school collection calls, instead using emails, texts and on-screen messages to urge delinquent customers to repay debt. Modern communications are said to be more efficient and in keeping with Consumer Financial Protection Bureau debt-collection rules set to take effect Nov. 30.

Americans are looking for immediate ways to offset rising costs, rather than saving points for future travel. Cash rewards, which were already growing in popularity, are now even more coveted.

Several rail and bus lines are working with Interac, the country's debit network, and its bank partners to allow the new fare payment option in addition to credit cards. They see the collaboration as a way to expand ridership among tourists and low-income residents.

On Jun. 30, 2021. Dollars in thousands.

Even as the pandemic has hastened adoption of digital banking, industry officials say branches remain vital points of contact with consumers.