Citigroup is the world’s largest credit-card issuer, with about 28 million customers, but the gap between its credit business and retail banking has grown larger. To combat this, Citi has begun testing perks for credit cards to encourage customers to get other banking products. Get...
Morgan Stanley will send the Russian central bank a notice that it’s going to formally close of all of its banking operations in the country in the first quarter of 2020, according to a report by Reuters. Get the Full Story Complete the form to...
U.K. bank NatWest is starting a merchant acquiring service for small to medium-sized businesses (SMBs), according to reports. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to...
FIS, Fiserv or Infosys will be tapped to provide the processing software for Robinhood’s upcoming mobile bank if it receives approval from the Office of the Comptroller of the Currency. Last week Robinhood, the company behind the free mobile trading app, filed an application to...
Moody’s Investors Service has released its Q1 report on consumer loans and their performances for the biggest U.S. retail banks. The loans includes auto, credit cards and mortgages, according to a release by the company. Get the Full Story Complete the form to unlock this...
Sweden’s oldest bank is facing investigations in the United States as it has acknowledged it hasn’t done enough to prevent money laundering. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
Mastercard and BMO Bank of Montreal announced Wednesday (April 24) that BMO is implementing Mastercard Send in an effort to deliver faster, cheaper and transparent international payment services in Canada. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Wells Fargo‘s interim CEO faced critics at the company’s annual meeting in Dallas. C. Allen Parker was interrupted more than a dozen times during his opening remarks, with hecklers shouting “frauds” and “criminals” as he tried to speak. “Wells Fargo, you cannot be trusted,” one...
Wealthfront’s new cash accounts have brought in $1 billion in customer deposits since the company launched the offering in February. The accounts give customers a higher-than-average, 2.24 percent interest rate. Now, because of the company’s billion-dollar achievement, Wealthfront is raising the interest rates to 2.29 percent. “Once...
