Investments in payments tech, AI are up in 2025
Companies are planning to spend more on technology and artificial intelligence in 2025 when compared to last year, and AI is a choice area for investments.
Philly Fed taps Chicago Fed research chief as next president
Anna Paulson, executive vice president and director of research at the Federal Reserve Bank of Chicago, will replace outgoing Philadelphia Fed President Patrick Harker.
Trump endorses ‘termination’ of Powell as Fed chair
In a post on his social media platform Thursday morning, the president criticized the Federal Reserve’s reluctance to lower rates and said the chair’s departure “could not come soon enough.”
Lenders, too, are punished by regulators’ overzealous ‘debanking’
Whether intentionally or not, regulatory incentives and punishments drive banks out of a lending market, to the detriment of the banking industry, consumers, American business and, in the long run, regulators themselves.
Global Payments to acquire Worldpay for $24.3 billion
As part of the deal, FIS is acquiring Worldpay’s credit processing unit.
CFPB shifts enforcement to states, stops nonbank oversight
An internal Consumer Financial Protection Bureau memo says the agency will shift enforcement and supervisory work to the states and cease oversight of all nonbanks and Big Tech firms.
The cybersecurity database the government nearly defunded
The U.S. government renewed funding for CVE at the last minute. Experts say it’s time to future-proof the program against other potential lapses.
Trump’s CFPB asks for dismissal of Townstone redlining case
The Consumer Financial Protection Bureau and Townstone Financial, a Chicago mortgage lender that it sued in 2020, jointly asked a federal court to vacate a settlement, saying the case should never have been filed.
Credit union oversight hobbled in warning to bank regulators
The firing of National Credit Union Administration board members further erodes the political independence of bank regulators, experts say, in a way that could trickle up to the Federal Reserve.
Klarna, Payoneer buck tariffs to boost global expansion
The Sweden-based payment firm, which recently delayed its IPO due to the trade war, will use Fiserv’s Clover point of sale system as it looks to build a market in the U.S. Plus: Payoneer makes a deal in China and other news in this week’s global payments roundup.