There are signs that participation in cardholder loyalty offerings is slipping. Credit unions must reengage members if they hope to retain those accounts.
Consumers have largely kept up with their payments during the pandemic, but Discover chief Roger Hochschild says he expects defaults to rise as structural changes in the economy lead to more layoffs of white-collar workers.
PayPal Holdings closed an account held by Joy In Liberty, one of the groups that paid for supporters of President Donald Trump to travel to Washington, where mobs stormed the U.S. Capitol on Wednesday.
Many consumers started using digital payments out of necessity once the pandemic struck. They may continue as it recedes because they like the convenience.
The agency said federal thrifts must abide by the same rules as national banks pertaining to membership in payment systems and codified policies on acceptable derivatives practices among a slew of technical changes.
Truist Financial Corp. has hired Sal Karakaplan to head its newly formed Enterprise Payments Group, which will be responsible for driving and executing a coordinated strategy across Truist’s various payments businesses.
