How agentic commerce fuels Visa’s ‘services’ push
The card network’s recent partnerships attempt to build demand for new forms of artificial intelligence while feeding “value added” revenue — a non-payment fee metric that investors watch closely.
CEA nominee pressed on inflation, tariffs during Senate hearing
Christopher Phelan, President Donald Trump’s nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.
Ramp CEO invites co-founder Karim Atiyeh to share top job
The $44 billion fintech also appointed a new CTO and head of engineering as it foregrounds artificial intelligence in strategic decision-making.
Bowman: Changes coming soon to Fed supervision and regulation
Federal Reserve Vice Chair for Supervision Michelle Bowman said Thursday morning that the central bank recently finalized a new organizational structure for its supervision and regulation division.
JPMorgan shuffles executive management; Lake to retire
The largest U.S. bank by assets named two co-presidents as part of its latest executive management changes. Marianne Lake, who was widely viewed as a contender to succeed CEO Jamie Dimon, will retire from the company.
Key inflation metric flashes red at 4.1%
The Bureau of Economic Analysis’ personal consumption expenditures inflation report for May showed that inflation had risen 4.1%, meeting elevated expectations and casting further doubt on the prospects of near-term interest rate cuts from the Federal Reserve.
The national bank charter is under assault? The facts suggest otherwise
Despite claims to the contrary, the national bank charter is not only alive and well, but is being aggressively defended by an Office of the Comptroller of the Currency that seems hostile toward state-level regulation.
Happen Bank completes rebrand; switches stock listing
The company, formerly known as LendingClub, moved from NYSE to Nasdaq as it officially launched its new name as a full-fledged digital bank.
OCC preemption moves could be headed for Supreme Court
Critics of the OCC’s broad preemption stance say the OCC is resurrecting an approach Congress curtailed after the financial crisis, setting up another Supreme Court test over the balance between federal banking powers and state consumer protections.
Deal would merge 2 banks in Michigan’s Upper Peninsula
Keweenaw Financial plans to acquire neighboring Range Financial in a transaction that would create an institution with nearly $1.7 billion of assets.