Bank economists say inflation, job market will deter growth
The American Bankers Association’s Economic Advisory Committee expects the economy to grow, albeit at a slower pace than it previously anticipated. The group pointed to stubbornly high inflation and a weakening job market.
PayPal inks BNPL deal; Revolut promises to invest in UK
PayPal agrees to a $7 billion BNPL loan purchase agreement with Blue Owl Capital, while Revolut, which is building a financial superapp, is looking for permission to offer more banking products. That and more in the American Banker global payments and fintech roundup.
How Trump’s visa crackdown could make payments more expensive
The president is charging $100,000 for H-1B visa petitions that allow skilled workers to migrate to the U.S. Here’s a look at the impact on banks and payment firms.
Cannabis banking needs more certainty than the SAFER Act provides
We don’t need to reinvent banking to support cannabis. But we do need a clear, federally coordinated compliance framework tailored to the sector. That means establishing uniform standards.
The Most Powerful Women to Watch, No. 10, Wendy Cai-Lee, Piermont Bank
With a risk-based capital percent double what’s considered well-capitalized, Cai-Lee is thriving in her goal of building a financial institution for the next generation of small and medium-sized businesses – while grappling with an FDIC consent order.
The Most Powerful Women to Watch, No. 9, Debopama Sen, Citi
Sen’s remit spans domestic and cross-border payments, commercial cards, clearing, and payments acceptance.
The Most Powerful Women to Watch, No. 8, Deborah Guild, PNC Bank
Guild said that the rapid acceleration of AI is creating “new, expansive cybersecurity challenges” for banks.
The Most Powerful Women to Watch, No. 7, Debbra Schoneman, Piper Sandler
Schoneman takes the long-term view on investing to navigate market volatility.
The Most Powerful Women to Watch, No.6, Tracy Kerrins, Wells Fargo
In a newly created role, Kerrins’ mandate is to modernize the bank’s platforms and embed AI capabilities across the enterprise.
The Most Powerful Women to Watch, No. 5, Christiana Riley, Santander U.S.
The head of Santander’s stateside operations built a career in banking by finding ways to “yes” to opportunities, even if they didn’t seem like “the perfect fit,” she said.