October 30, 2024
Bank of America May Ask Courts to Resolve CFPB Zelle...

Bank of America may ask a court to resolve the Consumer Financial Protection Bureau’s (CFPB) investigation of the bank’s processing of payments through the Zelle network. The bank said in...

October 29, 2024
Visa to Lay Off 1,400 as It Streamlines International Business

Visa will reportedly lay off 1,400 employees and contractors, including about 1,000 in technology positions, by the end of the year. The company aims to streamline its international business with...

October 21, 2024
Obligo Raises $35 Million to Grow Its Flexible Security Deposit...

Obligo has raised $35 million in new funding to accelerate the growth of its flexible security deposit solutions for the residential rental market and to launch additional products. The company...

October 21, 2024
Earnings Season Shows Consumer Pressures on Auto Loan Payments

Earnings reports this season, particularly from banks, have taken note of the resilience in consumer spending, especially on debit and credit cards, in various areas of discretionary activity, including dining...

October 17, 2024
Fannie Mae Upgrades Outlook on US Economy

America’s economy is in a better place than previously thought, new Fannie Mae research shows. The mortgage company’s Economic and Strategic Research (ESR) Group released these findings Thursday (Oct. 17), based on annual revisions...

October 17, 2024
Back-to-School Shopping Drives Consumer Spending Surge in September

September’s retail sales data showed a (slight) acceleration of spending from August, though we’re well off past peaks. And speaking of past peaks — looking at year-over-year growth rates and...

October 15, 2024
61% of Millennials Want Real-Time Payments in Finance and Insurance

As the financial and insurance sectors evolve, the demand for swift and accurate payment systems has never been more pronounced. Legacy systems often need to improve, resulting in delays and...

October 14, 2024
CE 100 Index Gains 1.7% as JPMorgan Leads Banks Higher

Earnings season is here — as always, led by the banks, and the banks led the CE 100 Index 1.7% higher through the past week. As a group, the banks...

October 13, 2024
Banking Giants Say Consumer Spending Remains Resilient Despite Inflation

America’s biggest banks say consumers are still spending in spite of inflation. As Reuters reported Friday (Oct. 11), earnings from two of the country’s biggest banks — and optimistic commentary...