With U.S. sanctions in place against Venezuela, banks fear compliance violations; exclusion and cyber attacks the biggest concerns of cash-free society.
The deal marks the first time that the retail giant will enable its customers to use fixed-rate loans, rather than credit cards, for big-ticket purchases in its stores and online.
The drudgery of filling out forms and changing bills prevents many customers from swapping banks. One fintech has simplified that exchange, and banks are willing to pay it to deliver them new customers.
The Securities and Exchange Commission rejected the banks' arguments that the proposals amounted to shareholder micromanagement and that they have made ample disclosures.
The CEO of the nation's biggest bank gave the fintech props for revolutionizing payments and then building off its success to provide a whole range of services to small-business clients.
Lawmakers on the Senate Banking Committee pushed Federal Reserve Chair Jerome Powell for details about how he plans to review the proposed merger between the two regional banks.
