Capital One sets out to tackle Discover compliance issues

The bank projects it will spend $2.8 billion in integration costs, CFO Andrew Young said Tuesday. That's on top of the $500 million Discover is planning to spend on compliance this year.

By Caitlin Mullen • Feb. 28, 2024

Warren calls out OCC over merger policy ahead of Capital One-Discover

The senator urged regulators to block the deal and took the OCC to task for its approval record. Meanwhile, JPMorgan CEO Jamie Dimon advocated for Capital One to get a fair shake.

By Dan Ennis • Feb. 27, 2024

Explore the Trendline➔

Data-driven disruption

More often than not, an innovator may see disruption as an enhancement to be embraced. And sometimes the innovators are the establishment.

By Banking Dive staff

Fed official makes a case for the dollar’s hegemony

Can the dollar’s reign as the world’s reserve currency persist? This Fed official makes a strong case, but digital doubts may remain.

By Lynne Marek • Feb. 27, 2024

Capital One-Discover deal may spur payments M&A

The blockbuster deal is set “to trigger a bunch of rethinking across the industry,” said Erin McCune, a partner at consulting firm Bain & Co.

By Caitlin Mullen • Feb. 27, 2024

Kraken wants SEC suit dismissed

The playbook for Kraken's motion to dismiss looks a lot like those of Binance and Coinbase.

By Gabrielle Saulsbery • Feb. 23, 2024

Capital One-Discover deal carries $1.38B termination fee

The fee would apply if Discover chooses another buyer or if either board has a change of heart but not if regulators block the deal.

By Dan Ennis • Feb. 23, 2024

Mastercard to be dinged by Capital One-Discover deal

While both Mastercard and Visa will be impacted by Discover’s plan to be acquired by card issuer Capital One, the former is likely to bear the brunt of the blow.

By Lynne Marek • Feb. 22, 2024

Capital One-Discover deal may spark antitrust concern

While the $35.3 billion acquisition is expected to prompt antitrust concerns related to consumer card lending, regulators may see competition benefits in the card network arena.

By Caitlin Mullen • Feb. 21, 2024

Cross-border payments remain focus for Fed

Tools that “automate processes, reduce costs and promote effective safeguards across jurisdictions” may help improve cross-border payments, a Federal Reserve official said last week.

By Lynne Marek • Feb. 20, 2024

Warren probes Zelle scam policy

Three senators, including Elizabeth Warren, asked Zelle owner Early Warning Services to provide detailed information about its fraud reimbursement policy.

By James Pothen • Feb. 20, 2024

PayPal invests in AI startup Rasa

The investment is the first that the digital payments pioneer is making from its new artificial intelligence venture fund.

By Tatiana Walk-Morris • Feb. 20, 2024

Capital One to acquire Discover in $35.3B deal

The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.

By Dan Ennis • Feb. 20, 2024

SoLo Funds nears 2M users

The peer-to-peer lending platform has faced some regulatory backlash, but a study from London's Centre for Economics and Business Research shows it's cheaper than many other subprime options.

By Gabrielle Saulsbery • Feb. 14, 2024

Adyen eyes growth in North America

Davi Strazza, North America president at Adyen, pointed to the Dutch processor’s single technology platform as setting it apart in a crowded field of payments players.

By Caitlin Mullen • Feb. 14, 2024

NY AG expands suit against DCG

Attorney General Letitia James initially alleged that Digital Currency Group and others defrauded investors of $1 billion. Now, after hearing from more investors, that number is up to $3 billion.

By Gabrielle Saulsbery • Feb. 12, 2024

Bill Holdings, Bank of America revamp contract

The provider of bill-pay software services was expecting to extend its services to more of the bank's clients. Now the bank is changing its plans.

By Lynne Marek • Feb. 12, 2024

Citi moves deeper into e-commerce through digital couponing

The bank recently launched a browser extension that searches for coupons on merchant checkout pages, suggests applicable codes and can activate cash-back offers.

By Suman Bhattacharyya • Feb. 12, 2024

Banks should step up scam response: fraud expert

With regulators gearing up to take a stronger stance against digital payments fraud, banks must focus on how they handle scams, one executive says.

By Caitlin Mullen • Feb. 9, 2024

Ex-Heartland Tri-State CEO charged with embezzling $47M in crypto

A Heartland customer told authorities he saw a red flag when Shan Hanes, the bank’s CEO until July, asked him for $12 million to help take his money out of a crypto investment, according to Bloomberg.

By Gabrielle Saulsbery • Feb. 8, 2024

Fleet fintech ditches Visa for Mastercard

Fuel card startup AtoB, with $112 million in financial backing, plans to take on dominant fleet service rivals Wex and Fleetcor.

By Lynne Marek • Feb. 6, 2024

Yellen asks Congress for stablecoin legislation

Treasury Secretary Janet Yellen renewed a call for Congress to act on digital assets, saying “there is no appropriate regulatory framework.”

By James Pothen • Feb. 6, 2024

Why ‘pay-by-bank’ faces adoption hurdles in US retail

Pay-by-bank has been catching on slowly, and it’s a particularly long shot for showing up at the point of sale any time soon.

By Suman Bhattacharyya • Feb. 5, 2024

Celsius emerges from bankruptcy after 18 months

As part of its bankruptcy exit, the crypto exchange is distributing $3 billion to creditors and launching a Bitcoin mining firm.

By Gabrielle Saulsbery • Feb. 2, 2024

One in four companies ban GenAI

The research by Cisco found that generative artificial intelligence tools are putting many companies’ sensitive data at increased risk of public exposure.

By Alexei Alexis • Jan. 30, 2024

Rivals may chase Fiserv special bank charter lead

If the payments giant receives a special Georgia charter and gains access to the card networks, it could open the floodgates for other merchant acquirers, attorneys said.

By Caitlin Mullen • Jan. 25, 2024