The slow U.S. adoption of real-time payments hurts half of Americans who live paycheck to paycheck, says Aaron Klein, a fellow at the Brookings Institution.
A 10-year exemption for banks offering estimated fees and exchange rates under the rule, instead of exact amounts, is set to expire in 2020. Lawmakers should consider a temporary extension.
Before the rule was issued, banks and money transfer companies acknowledged that better disclosures and other steps were necessary in light of higher costs for international money transfers.
WorldRemit's ambitious goals for its U.S. payment operations say a lot about how immigrants here are changing as customers — they’re digitally savvy, connected and mobile-ready.
BBVA has launched a new mobile app that is designed to help people in the U.S. send money to friends and family in Mexico — more quickly and cheaper than traditional remittance methods.
China’s crackdown on cryptocurrency exchanges raises questions about the future of digital asset innovation, a movement that some bankers view as a threat and others embrace as a boon to payments, P-to-P lending and other activities.
As an open network, bitcoin is in one sense the most inclusive financial system imaginable. But for now, transfers of the cryptocurrency are priced like a luxury good.
Citi is holding its first investor day since the financial crisis, plugging credit cards and its Mexican business; Morgan Stanley's market cap tops Goldman's for the first time.
