PYMNTS News

Fed Fines Deutsche Bank $186 Million for ‘Insufficient Remedial Progress’
Fed Fines Deutsche Bank $186 Million for ‘Insufficient Remedial Progress’
July 19, 2023  |  Bank Regulation

The Federal Reserve has fined Deutsche Bank $186 million, saying it has made “insufficient remedial progress” on earlier consent orders around sanctions compliance and anti-money...

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As Goldman Retreats From Retail, Consumer Loan Charge-Offs Hit 5.8%
As Goldman Retreats From Retail, Consumer Loan Charge-Offs Hit 5.8%
July 19, 2023  |  Earnings

Goldman Sachs’ retreat from Main Street banking continues — and the second quarter results showed the lingering impact. While Wall Street may be parsing the...

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Meta Sharpens AI Strategy as Tech Giants Crowd Marketplace
Meta Sharpens AI Strategy as Tech Giants Crowd Marketplace
July 19, 2023  |  artificial intelligence

The generative artificial intelligence (AI) landscape is getting crowded. And some of the world’s biggest technology companies are starting to jostle for elbow room. This,...

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Payments Execs Debate the FedNow Launch: Instant Uptake or Tough Slog Ahead?
Payments Execs Debate the FedNow Launch: Instant Uptake or Tough Slog Ahead?
July 19, 2023  |  Faster Payments

And now comes the real test. Almost four years ago, the Federal Reserve announced that it would develop a “round the clock real time payment...

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TerraPay and Safaricom Team on Cross-Border Payments
TerraPay and Safaricom Team on Cross-Border Payments
July 19, 2023  |  Cross Border Commerce

Payments infrastructure TerraPay has launched a cross-border remittance partnership with Kenyan telecommunications firm Safaricom. The collaboration, announced Wednesday (July 19), will operate through TerraPay’s remittance...

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When It Comes to Proving Their Identity, 40% of Consumers Say Make It Easy
When It Comes to Proving Their Identity, 40% of Consumers Say Make It Easy
July 19, 2023  |  Digital Identity

As fraudsters grow more sophisticated, so too must the fraud defenses of eCommerce sites and other operators who sail the shark-infested waters of digital commerce....

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Temu Accuses Rival Shein of ‘Intimidation’ in Federal Lawsuit
Temu Accuses Rival Shein of ‘Intimidation’ in Federal Lawsuit
July 19, 2023  |  Legal

The rivalry between two Chinese online retailers spilled over into U.S. federal court. In an antitrust suit filed in Massachusetts last week, Temu accuses fast-fashion...

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Emburse Adds Flight and Hotel Rebooking Capabilities With Tripbam Acquisition
Emburse Adds Flight and Hotel Rebooking Capabilities With Tripbam Acquisition
July 19, 2023  |  Commercial Payments

Travel and expense management firm Emburse has acquired Tripbam. Tripbam provides fully automated, always-on auditing technology to track and review corporate travel pre-trip spending, corporate negotiated discounts and...

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Toast Reverses Course on $0.99 Consumer Fee Following Restaurant Outcry
Toast Reverses Course on $0.99 Consumer Fee Following Restaurant Outcry
July 19, 2023  |  ResTech

Well, that was quick — less than a month after sharing that it would add a $0.99 fee for consumers on online orders of $10...

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