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A "true" stablecoin would benefit the economy by improving the money supply, facilitating frictionless payments and lowering the cost of borrowing fiat currency.
May 10 -
Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.
May 9 -
Executives of Allegiant, Breeze and Spirit complained to the heads of the Consumer Financial Protection Bureau and Department of Transportation that the relationships between big banks and big airlines are anticompetitive. Consumer advocates also questioned whether large airlines are delivering on promised rewards and if consumers are racking up debt to accrue miles and points.
May 9 -
The next major chance the lawmakers could have on the so-called "swipe fee" legislation will come next year as Congress looks toward a tax package.
May 9 -
The Federal Trade Commission recently blasted two companies for their murky business practices and confusing charges. Industry experts say many digital and recurring payments are inviting more regulatory scrutiny.
May 9 -
National Australia Bank is adding a Pay By Bank option for near-instant payments, Italy is bringing open-loop payments to buses in Tuscany, and more.
May 8 -
Sophia Goldberg, CEO of the startup Ansa, is a self-described payments nerd. She studied this industry for years — and literally wrote the book on payments — before starting her own company to develop digital wallets. In this live session, Goldberg, one of American Banker's Innovators of the Year for 2024, will share lessons on consumer and merchant behavior, and the changes she expects to see.
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Banks rely on fee income to a greater or lesser extent depending on business model, and the Biden administration is intent on cutting consumer fees across the economy. But that push might hamper another administration priority: financial inclusion.
May 7American Banker -
Katherine Weislogel's career began by being in the right place at the right time.
May 7 -
By training a core payment card fraud-detection platform on more than 15 billion transactions, the card network is honing the accuracy of warnings sent to issuers about suspicious purchases.
May 7