HSBC offers Trump tariff loan to cover clients’ import costs
The London-headquartered bank is extending its TradePay platform to directly cover the cost of tariff payments, allowing importers to effectively borrow to meet the increased expenses involved in shipping products into the U.S.
How agentic commerce redefines AI’s role in payments
AI agents have the power to automate a number of once-manual tasks: They can conduct background research, generate content, write code and analyze data. In their latest evolution, driven by Visa, Mastercard and other fintechs, payments are now on the menu of services.
CFPB won’t enforce rule classifying BNPL as credit cards
The bureau’s Tuesday afternoon announcement follows an earlier statement that it would walk back a rule that places buy now/pay later loans under the Truth in Lending Act’s Regulation Z, a move that will ease compliance for fintechs that offer installment loans.
Why this Minnesota bank dropped its overdraft fees
Eliminating overdraft charges is Stearns Bank’s latest move to limit fees that its customers pay. CEO Kelly Skalicky says deposit service fees aren’t a good business model.
House Democrats block GOP crypto hearing
House Financial Services Committee ranking member Maxine Waters, D-Calif., blocked a planned joint hearing on a crypto market structure bill Tuesday amid concerns about the Trump family’s conflicts of interest in cryptocurrency.
Barclays looks for collaborators on a ‘kill chain’ to fight fraud
The bank partnered with fraud prevention company Threat Fabric to create a taxonomy the companies hope will make it easier to communicate about fraud.
What Global Payments expects from its Worldpay union
The pending acquisition is one of several large deals involving payment companies in recent years as legacy firms look for combinations that can counter newer fintech rivals.
Bessent says tariff negotiations could wrap by year end
Treasury Secretary Scott Bessent said he expects ongoing negotiations with trading partners over tariffs to conclude by the end of the year, but acknowledged that negotiations with China had not yet begun.
Santander to shut 18 U.S. branches as it boosts digital bank
The banking arm of Spanish giant Banco Santander plans to close about 4.5% of its branch network in the United States, according to regulatory filings.
Senate Banking advances Bowman nomination
The Senate Banking Committee sent the nomination of Michelle Bowman to the full Senate in a party-line 13-11 vote.