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Bank of America hurt by rising losses in credit cards, office loans

American Banker

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

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Small Business Banking Targeted In Open Banking Initiatives

PYMNTS

Agora said its solution can be deployed within a month to connect smaller banks’ small business users to virtual and physical cards and sub-accounts, while for its teen-targeting technology, the solutions allow FIs to introduce account and spend control features. Funding Circle Takes A Closer Look At Open Banking. Over in the U.K.,

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What Is Powering The Emerging Pawnaissance?

PYMNTS

While short-term lending in general has a pretty rough reputation, the pawn loan is the most ill-regarded arena in an already unloved category of consumer lending. The loan amount a borrower can get from a pawnbroker is determined solely by the value of the item itself; as in most forms of short-term lending, there is no credit check.

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Equifax Still Fights To Regain Trust As Q2 Sales Slump

PYMNTS

The company has struggled to recover trust with customers since September 2017, after hackers accessed the data records of more than 143 million consumers, including personally identifiable information like Social Security numbers, drivers’ license numbers and credit card data. Net income fell 12 percent to $144.8 million, or $1.19

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CFPB settles with military base retailer and related companies for alleged unlawful debt collection practices

CFPB Monitor

Mishkin As part of this week’s flurry of enforcement-related announcements, the CFPB announced the settlement of a lawsuit filed jointly with the Attorneys General of North Carolina and Virginia against Freedom Stores, Inc.

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June’s Top 12 Mobile Pay Moments

PYMNTS

While Apple Pay also recently launched in Singapore, Samsung Pay joins the region with its signature niche: the MST tech that makes Samsung Pay usable at virtually anywhere merchant credit cards are accepted. Anyone who loaded a gift card onto the CurrentC wallet and didn’t hold onto that gift card will lose that balance after June 28.

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Truliant revamps flagship credit card as broader credit usage declines

American Banker

billion-asset institution's product will not carry any fees and offers a variable APR.

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