Democrats’ affordability mandate could revive swipe-fee fight
New Democratic dominance in state governments could breathe new life into merchant and consumer advocacy groups’ pushes on challenging interchange fees, credit card network dominance and consumer protections of all stripes.
US payments companies continue to be shut out of China
The Chinese government’s decades of resistance to allowing U.S. payments networks to compete in China have created an effectively closed market. Recent overtures to Visa don’t change that.
Ransomware crew claims 5 banks and a CU; 2 confirm breaches
The five banks Storm listed hold about $6.1 billion in assets. Only Sawyer and Insight Credit Union have confirmed breaches.
FTC emerges as main consumer-protection watchdog in D.C.
As other federal agencies retreat, the Federal Trade Commission has become the only active consumer watchdog under the Trump administration, overseeing big-tech firms and digital payments.
BofA has 5 million wealthy customers outside Merrill. Can it win their assets?
Bank of America CEO Brian Moynihan sees plenty of progress in his firm’s wealth management businesses, despite calling that arm its “least efficient.”
Fed’s Bowman says ‘there is still work to do’ on inflation
The Federal Reserve Board member and leading regulator said inflation has been ‘more persistent’ than she expected but argued for gathering more data on financial conditions.
Card balances rise, but pace of growth slows: New York Fed
The regional Fed bank’s latest quarterly report on household debt and credit shows an uptick in credit-card debt during the third quarter. That’s not necessarily a bad thing, one analyst said.
As bank BNPL grows, consumers could face added risk
Equipifi, which processes buy now/pay later lending for banks and credit unions, says usage is growing quickly ahead of the 2026 holidays. Payment experts say the option also increases cashflow risk for consumers.
North Dakota bank looks to put down roots in Dallas
First International Bank & Trust has agreed to pay an undisclosed sum to acquire a Dallas community bank, joining a growing list of out-of-state and international companies seeking to expand in the fast-growing city.
RIA Leaders: Top 10 firms by number of financial advisors for 2026
For the third year in a row, registered investment advisory firm Savant Wealth Management has more financial advisors than any other fee-only financial planning company.