Trump, again, calls on Congress to cap credit card rates
President Trump in Davos, Switzerland talked about his call for lower credit-card interest rates and more affordable housing in a lengthy speech that mostly focused on his plan to take over Greenland.
PayPal turns to AI to boost branded checkout
The payment company is betting on agentic commerce to get its checkout tech in front of more merchants and consumers.
Credit card payment rails cannot handle AI-driven transaction volume
As artificial intelligence agents play an increasingly large role in enterprise finance, traditional credit card rails will be incapable of handling the speed and volume of transactions. Something new is needed.
As CFPB retreats, state AGs and bank regulators step up
The Consumer Financial Protection Bureau has backed off enforcement and supervision of consumer protection laws, leaving states to fill the void — and potentially creating a “patchwork” of state laws that banks will have to comply with.
KeyCorp, facing activist investor heat, tweaks board lineup
The Cleveland-based bank announced changes Tuesday to its board of directors, including the appointment of a new lead independent director. Last month, activist investor HoldCo Asset Management urged the bank’s board to not re-nominate its longtime lead independent director.
NYSE, DTCC developing blockchain-based securities trading
The financial market infrastructure providers are taking advantage of political tailwinds and technology advancements to offer 24/7 trading over distributed ledgers.
Fifth Third’s old-school plan to keep Comerica customers
In the 11 months after Fifth Third completes its acquisition of Comerica, the Cincinnati bank plans to send 13 million-to-14 million pieces of paper mail to retail customers. CEO Tim Spence says the old-fashioned method “still works,” and actually has some advantages over more modern modes of communication.
Brazen scheme combines fraud, visiting customers’ homes
A New Jersey courier scam highlights the severe liability risks consumers face when using debit cards compared to credit cards.
Strong fundamentals help boost earnings at U.S. Bank
The Minneapolis-based regional saw its fourth-quarter profits jump 23%. Consumer deposits bumped up, while operating expenses remained muted.
First Entertainment CU launches digital brand in Atlanta
The newly launched digital credit union, CineFi, aims to serve creative professionals in the Atlanta area as well as First Entertainment’s existing member base in Los Angeles.