Merchant

The Florida bank's agreement with the core provider FIS is expected to reduce annual expenses by $12 million. Analysts expect more banks to make similar moves.

A new proposal to allow the Small Business Administration to offer credit directly would pull customers away from community lenders, writes the head of a credit union trade group.

The card network aims to attract more merchant customers with an account that pays a 1.1% interest rate.

The credit card issuer benefited from consumer loan growth in the third quarter, but investors seemed spooked by increases in its marketing and technology costs.

Best known as a website management company, GoDaddy began directly offering digital and offline payments after learning that its clients were getting those services from fintechs. The company is also now selling terminals for in-store payments.

As the expiration of a national eviction moratorium puts economic pressure on low-income households, the Consumer Financial Protection Bureau is said to be considering investigating credit bureaus, debt collectors and large landlords accused of harming renters. But some argue the agency would be overreaching.

The lender is building on a 20-year-old partnership with Fiserv to provide options such as revolving credit, with plans to add buy now/pay later.

More banks are boosting salaries to lure and keep workers in a highly competitive hiring market, but the pressure is on to trim expenses elsewhere to offset the pay hikes.

Banks, credit card issuers and debt collectors all supported the Consumer Financial Protection Bureau’s revised regulations. But they face a steep learning curve in complying with the rules, which take effect Nov. 30.

Allowing the Small Business Administration to originate, rather than just guarantee, loans would provide much-needed capital to startups and mom-and-pop shops that many banks, credit unions and other lenders view as risky credits.