Financial Services

The CFPB and OCC claim BoA’s faulty program automatically froze accounts, causing customers to miss out on deserved benefits.

JPMorgan, Citi, and Wells Fargo reported strong card spending in Q2, but inflation and recession fears made them pivot to a more defensive posture.

On today's episode, we discuss why the new Wells Fargo credit card is significant and the short- and long-term challenges of credit card companies. "In Other News," we talk about what to make of the market value free fall of buy now, pay later giant Klarna and why Meta is ending the pilot for Novi, the company's digital wallet. Tune in to the discussion with our analysts David Morris and Jaime Toplin.

The updated version offers more generous rewards for purchases at US gas stations and online purchases. We weigh whether that’s enough to capture consumers’ attention.

As the online BNPL space saturates, Afterpay and Klarna are turning to in-store partners to fuel growth.

Goldman Sachs lent $233 million to help it grow its financial services presence in the region.

The terminated deal could not meet regulatory requirements. VyStar’s recent troubles show the hazards that delayed M&As and digital transformation pose to banks’ growth.

Zip said it plans to focus on its core business instead—we look at what it means for both providers.

In 2023, 5.5 million US adults will use cryptocurrency to make payments, a jump of more than 350% in three years. That said, this figure represents a meager 2.3% of US internet users, showing that crypto payments are far from mainstream.

It’s buying a banking license and using its funding to build the tech behind its operations, laying the foundation for a super app.

The UK granted its second fintech banking license in the past month. But we expect Johnson’s resignation will delay fintech development.

Sling helps restaurants manage employee scheduling, internal communications, and payroll—features Toast can use to build out its platform.