Late payments, which have been on a steady rise since 2021, are now climbing at a slower rate or even declining at some major card issuers. Risks remain, but there's 'reason to be cautiously optimistic," one analyst said.
An interchange provision included in Illinois' budget bill could force banks and payment processors nationwide to revamp their payments infrastructure, lobbying groups for the industry say.
A scheduling conflict will prevent Federal Deposit Insurance Corp. Chair Martin Gruenberg from attending a House hearing on workplace misconduct allegations despite ongoing GOP scrutiny and prior calls for his resignation.
Digital assets have never caught on for mainstream payments, but the card network isn't giving up hope. Its latest effort aims to reduce complexity by learning from the successes of digital wallets.
Investors homed in on the benefits of positive economic data for lenders, rather than the possibility of a strong job market delaying interest rate cuts that would help to lower deposit costs and boost credit demand.
This year a California bank takes the No. 1 spot on American Banker's annual list of the best performing community banks.