Are payment executives too hot on advanced AI?
Investment in machine learning is outpacing consumer interest on the ground. Here’s what companies like FIS and Marqeta are doing while waiting for demand to catch up.
The lawsuit targeting the Fearless Fund is part of a disturbing trend
While federal efforts to provide funding for minority small businesses wither, a lawsuit seeks to shut down an effective source of private capital.
Goldman, JPMorgan, Morgan Stanley, UBS settle stock-lending suit
The four banks agreed to pay $499 million and also cooperate in the litigation against Bank of America Corp., the sole remaining defendant.
The credit card climate crisis
The payments industry produces billions of cards each year, contributing to the massive amounts of plastic that end up polluting the planet. Key players have stepped up to adopt more environmentally friendly options.
5 ways banks use data science
Banks handle vast amounts of data, and understanding and making the most of that data is key to staying competitive.
California bars unfair, deceptive practices in small business lending
A new state regulation brings consumer-style rules to the small business realm, extending California regulators’ ability to crack down on nonbank lenders that engage in questionable practices. Observers believe that it could be a model for other states.
‘Everybody else left or they died’: California bank grows simply by surviving
East West Bancorp chief Dominic Ng long faced skepticism from analysts who had questioned his conservative approach to capital allocations — a strategy that has helped his Pasadena-based bank weather decades of ups and downs in the banking industry and survive amid the collapse of other California banks this spring.
Gen Z favors word of mouth over marketing
Forget special offers, ubiquitous branches and promises of convenience. Younger clients want to see state-of-the-art technology and hear good things from friends and family, according to a recent Arizent survey.
Canadian bank results expected to be hit by expenses, pinched consumers
The country’s Big Six banks are seen as likely to continue struggling as they contend with deteriorating consumer finances and rising internal costs.
Powell is using Jackson Hole as final push in inflation fight
Federal Reserve chair Jerome Powell is expected to tout the economy’s brightening prospects while communicating to markets that the central bank’s fight against inflation is not yet over in his address at an economic summit in Jackson Hole, Wyo. on Friday.