Technology

As a public company, the neobank would have the capital support to keep growing quickly. It would also have to rein in costs and show a profit.

As the company bolsters artificial intelligence-powered point of sale and battles other fintechs and the card networks, getting a boost with distribution has become a major priority.

House Republicans grilled a company exec about its widespread outage, but some, including Mark Green, R-Tenn., thanked the company for its response.

The company has signed an agreement to sell Continental Finance its entire card portfolio.

Three of the companies that were part of the FTC's sweep, Operation AI Comply, charged consumers to open online storefronts that generated little money compared to what was promised.

Canada and Australia de-emphasize government-backed digital currency projects while Morgan Stanley and BTIG criticize Global Payments' strategy as the processor's stock slides.

Sen. Edward Markey warns that biased AI algorithms are making decisions that deny mortgages to Black people. 

Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.

Investors and startups see the AI boom in financial services and across the economy driving the necessity for cleaner power.

The new bank-led digital wallet is signing up financial institutions, but payment experts say broadening its merchant base and reaching consumers will be an uphill climb.