News Topic: U.S.

As apps like Uber and Lyft gain more traction, the need for new cars ⁠— and loans ⁠— is expected to diminish. ... Read full article

TransferWise once marketed itself as Robin Hood-style rival to banks. Now it sees itself as an ally. ... Read full article

Falling stock prices and concerns about the health of the economy are depressing deal activity. ... Read full article

Malia Lazu, a former community organizer, is overseeing a cultural shift at the Boston company that includes a new program designed to make more loans to minorities. ... Read full article

With margins under pressure and competition intensifying, a number of community banks are zeroing in on underserved markets. ... Read full article

Most agencies use electronic benefit transfer to deliver funds to prepaid cards, but recipients who need access to cash are often caught in a bind, with fewer convenient or free ATMs available in an increasingly digital payments landscape. ... Read full article

The timing of the settlement serves as a warning to other companies of the risks they face in an increasingly data-focused economy. ... Read full article

The ride-sharing heavyweights Uber and Grab built their markets by making payments seamless, and their expansion plans are similarly hooked into improving payments and other financial services. ... Read full article

Intense competition for information technology pros is forcing community banks to recruit from outside the financial industry. ... Read full article

Rising premiums and lenghty earn-back periods have made investors more skeptical than ever about M&A. So the sooner banks are able to convert systems and rebrand, the sooner they'll be able to meet the promised cost-cutting and revenue targets. ... Read full article

The Clearing House announced moves to attract community banks and credit unions to its real-time payments system. Smaller depositories have generally been reluctant to sign up with what is seen as a large-bank effort. ... Read full article

Given the size of the deal — which includes about $9 billion of Worldpay’s debt on top of a $34 billion bid — the pressure’s on to build a global powerhouse that can counter other major fintech mergers announced in the past weeks. FIS must also emerge as a ... Read full article

Financial services technology company FIS has agreed to buy Worldpay in a deal valued at $43 billion, which allows FIS to counter the transaction processing scale Fiserv received when it acquired First Data earlier in 2019. The merger price is based on a ... Read full article

The U.S. Supreme Court threw out a government lawsuit that accused American Express Co. of thwarting competition by prohibiting merchants from steering customers to cards with lower fees. ... Read full article

Momentum is continuing unabated for blockchain projects and initial coin offerings (ICOs) as the potential for blockchain continues to be realized. ... Read full article

The U.S. charged 36 people in a takedown of an international cybercrime ring that prosecutors say used the slogan “In Fraud We Trust” and stole $530 million with the help of pilfered identities and malware. ... Read full article

After a year of trying to appease U.S. regulators, Ant Financial and MoneyGram have terminated their merger agreement, challenging the Chinese company's strategy for global expansion. ... Read full article

The simple act of moving money can have a big impact on any political movement, so banks and payment networks are often caught up in issues of national importance. Here are some recent instances where payments and politics came head-to-head. ... Read full article