Merchant

Before its disappearance, Avaddon said it hacked Valley National Bank's network and threatened to leak sensitive data. The bank is still investigating.

During lockdown, adoption of services like mobile order-and-pay, biometric authentication, contactless fare collection and digital currency accelerated. Consumers have more options than ever — and their behaviors will guide further innovation.

Under the deal, the $425 billion-asset bank will become the exclusive card issuer for the home furnishings retailer, which long partnered with Alliance Data Systems.

By 2023, the Federal Reserve expects to launch a service that would allow businesses and consumers to complete payments in real time. But a digital currency it's now studying could have similar benefits — while potentially removing the need for bank intermediaries.

The Biden administration will award $1.25 billion to hundreds of community lenders in an effort to speed the economic recovery from the coronavirus pandemic, Vice President Kamala Harris will announce on Tuesday.

With the Colonial Pipeline attack still in the news, bank CEOs testifying at a recent hearing cited cyber risk as the biggest threat facing the industry. But members of Congress did not share those concerns, and instead were more focused on criticizing banks about overdraft fees and their level of investment in minority communities.

The bank has its eye on younger cardholders who are ready to spend more heavily now that pandemic restrictions have eased.

Just as small and midsize businesses had to adapt to survive the coronavirus emergency, lenders need to adopt new underwriting practices and technologies that modernize how they evaluate borrowers' creditworthiness.

The product, which will compete against Citi’s Double Cash card, is the first step in CEO Charlie Scharf’s revamp of a business segment that has long trailed top competitors.

The deal for the Salt Lake City-based home improvement lender, which Home Depot tried to acquire more than a decade ago, is part of a larger effort by Regions Financial to diversify its home lending business.