The Justice Department's probe of Visa highlights whether merchants are properly equipped to adapt to the cost of debit spending as more commerce goes digital.
Visa and Mastercard are facing fresh opposition from U.S. retailers in a long-running legal fight over the fees merchants pay each time consumers swipe their credit or debit card at checkout.
The fallout may go beyond large losses at Nomura and Credit Suisse from Archegos Capital; the bank’s CEO is getting five more years as the stock rebounds following a massive restructuring.
Over the past year, bankers have been able to sit back and field calls from borrowers eager to take advantage of low rates. Now, with rates rising, many in the industry will likely adopt a more aggressive approach.
The federal banking and credit union agencies want input about how financial institutions use artificial intelligence for credit underwriting and other purposes, and about whether additional regulatory guidance is needed.
