Swipe fee reform will barely dent American banks’ record profits
Small businesses and consumers deserve the relief that legislation like the Credit Card Competition Act would bring from the fees that burden every card-based transaction. Banks can easily afford it.
Forecasting the Future of the Payments Industry, 2025
American Banker surveyed 100 banks, credit unions and payment firms on how gen AI, President Donald Trump’s policies and consumer habits are changing their investments.
Bessent sees no reason for recession, economic data ‘healthy’
The Treasury secretary pointed to figures from credit cards and banks as “very good underlying data.”
‘Hitting bone’: CDFI industry fears deep cuts under Trump
President Donald Trump’s executive order severely limiting the Treasury’s Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.
Wells Fargo clears another consent order, now down to three
The San Francisco bank announced Monday that it has shed its fifth regulatory order this year — this one related to loss mitigation practices in its home lending business.
SmartBiz is first fintech to become bank under Trump
It’s been rare for a fintech to win regulatory approval to become a bank, with none receiving approval under President Joe Biden and only a few successfully obtaining charters before that.
Trump taps Bowman as Federal Reserve’s top regulator
President Trump’s selection of Federal Reserve Gov. Michelle Bowman as the next vice chair for supervision comes as banking groups and their allies in Congress asked the administration to fill the position quickly. Bowman was the preferred choice for many in the industry.
Inside Visa’s battle to get a head start beating scams
The card network said it saved would-be victims $350 million in the first year after it combined several crime-fighting units.
Credit card delinquencies declined at faster pace in February
Amid troubling news of tariffs and layoffs, dropping delinquencies offer a rare sign of consumer health.
UK’s OakNorth to acquire Detroit-area community bank
London-based OakNorth has amassed a sizable U.S. loan portfolio and had been seeking a U.S. charter to simplify its funding model.