Risk

  • American Express sticker on a window
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    Justin Sullivan via Getty Images
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    Amex taps troves of customer data

    American Express eschews preset spending limits and instead relies on credit scores and spending history to manage risk, a company executive explained at a conference last week.

    By • Sept. 10, 2024
  • Headshot of Hope Mehlman, GC and CLO of Discover
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    Courtesy of Discover
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    Discover’s top lawyer leaves for Ally

    Hope Mehlman is expected to take her new Ally role on Dec. 2, even as Discover faces high legal hurdles in completing an acquisition of its business by Capital One.

    By • Sept. 9, 2024
  • Shift4 Payments SpaceX Isaacman
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    Retrieved from Polaris Dawn on September 06, 2024
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    The fintech CEO who is becoming a frequent flier with SpaceX

    On Jared Isaacman’s second trip to space, the billionaire plans to become the first private spacewalker. Shift4 investors will need to follow space news to learn about it.

    By Justin Bachman • Sept. 9, 2024
  • A sign that reads "Discover" marks the entrance to the card company's headquarters in Illinois.
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    Scott Olson / Staff via Getty Images
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    Ex-Discover exec alleges age, gender bias in lawsuit

    Diane Offereins is suing the card network over roughly $7 million in clawed-back equity, claiming she was a “convenient scapegoat” for Discover’s card misclassification issue.

    By Caitlin Mullen • Sept. 5, 2024
  • Kiosks in grocery store
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    Lynne Marek/Payments Dive
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    Grabango CEO pushes for more partnerships

    The Berkleley, California-based company is looking to expand by building ties with established retailers, CEO Will Glaser said. 

    By • Sept. 5, 2024
  • Two people walk past a Chase bank branch.
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    Spencer Platt via Getty Images
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    Viral JPMorgan Chase glitch is ‘fraud, plain and simple,’ bank says

    Some customers deposited bad checks and immediately withdrew funds before the checks bounced in a glitch that went viral on TikTok. Now, some users have holds on their accounts.

    By Gabrielle Saulsbery • Sept. 4, 2024
  • Federal Reserve Board Governor Christopher Waller sits at table speaking.
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    Sarah Silbiger via Getty Images
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    Fed official questions faster cross-border payments ties

    Federal Reserve Governor Christopher Waller suspects there could be more fraud and money-laundering if countries move too quickly to link their faster payments systems, he said at a conference.

    By • Aug. 29, 2024
  • A person displays their open wallet and cards
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    Joe Raedle / Staff via Getty Images
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    Shoppers’ online fraud fears escalate

    Four in five consumers are worried about identity theft or someone stealing their credit card numbers, according to a report this month from the credit monitoring agency Experian.

    By • Aug. 28, 2024
  • Marqeta CEO Simon Khalaf
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    Permission granted by Money 20/20
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    Q&A

    Marqeta isn’t a ‘single-trick pony,’ CEO says

    The embedded finance firm’s partnerships with Varo Bank, Affirm, Visa and Zoho and its new office launch in Warsaw, Poland, underscore the expansion of the payment platform's market presence.

    By Rajashree Chakravarty • Aug. 22, 2024
  • The logo for consumer lending firm Capital One Financial Corp is seen on its headquarters on January 20, 2023 in McLean, Virginia.
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    Win McNamee / Staff via Getty Images
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    Capital One, Citi plan to join FedNow in ‘near future’

    The two big banks say they’ll soon connect to the Federal Reserve’s new instant payment system, even as other major banks remain on the sidelines.

    By • Aug. 20, 2024
  • Check fraud
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    Douglas Sacha via Getty Images
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    Sponsored by Synovus

    The forgotten threat: In an automated world, check fraud still thrives

    Electronic payments have become the norm for most B2B transactions. Oddly enough, that has been accompanied by a rise in check fraud. Here's what businesses need to know.

    By Laura McGortey, Synovus Bank • Aug. 19, 2024
  • A person displays their open wallet and cards
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    Joe Raedle / Staff via Getty Images
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    Q&A

    Credit card users struggle with inflation

    JD Power’s annual credit card survey found that more than half of U.S. credit card users don’t pay their balances in full every month, and less than half are considered financially healthy.

    By • Aug. 16, 2024
  • JPMorgan Chase building signage in New York City
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    Michael M. Santiago / Staff via Getty Images
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    JPMorgan, Zelle may have upper hand if litigation ensues

    If the banks that own Zelle’s parent battle the Consumer Financial Protection Bureau in court, they may find some federal judges open to their arguments, lawyers specializing in the area said.

    By • Aug. 15, 2024
  • The dome of the U.S. Capitol Building as seen at dawn.
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    Win McNamee via Getty Images
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    Fintechs ramp up lobbying over earned wage access, crypto

    Chime, PayPal and Block, for example, spent more on lobbying in the first half of 2024 than for the same span last year, OpenSecrets reported.

    By Suman Bhattacharyya • Aug. 15, 2024
  • Pixelated U.S. paper currency on dark background
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    dem10 via Getty Images
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    Finance professionals grapple with payments fraud

    About a fifth of finance professionals in a recent survey said their organization has already been targeted by AI-driven deepfake or executive impersonation attacks.

    By David McCann • Aug. 13, 2024
  • Man leans over laptop with head in hand looking at credit card.
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    Butsaya via Getty Images
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    US credit card balances climb to $1.14 trillion

    Consumer credit card debt delinquencies are also on the rise, particularly among younger consumers, according to a New York Federal Reserve report.

    By Tatiana Walk-Morris • Aug. 8, 2024
  • Stack of credit cards spread out
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    bernie_photo via Getty Images
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    Q&A

    Credit card delinquencies rise even as credit limits are extended

    The two developments stem from greater use of credit cards, and could have implications for some businesses, says a Bain & Company analyst.

    By • Aug. 6, 2024
  • Two people walk past a Chase bank branch.
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    Spencer Platt via Getty Images
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    JPMorgan threatens to sue CFPB over Zelle

    The bank flagged government inquiries over its handling of P2P disputes in May, and said Friday it would consider litigation if the agency issues an enforcement action.

    By Dan Ennis • Aug. 5, 2024
  • Business, technology, internet and networking concept. Young businessman working on his laptop in the office, select the icon Fraud prevention on the virtual display
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    putilich via Getty Images
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    Q&A

    How artificial intelligence can improve payments fraud prevention

    Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.

    By • July 31, 2024
  • Sibongile Ngako, Brex's new compliance chief, is pictured wearing a white jacket.
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    Permission granted by Victoria Reynolds
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    Q&A

    5 questions for Brex’s new compliance chief

    When it comes to innovation, “if it's moving too quickly for customer protection to keep pace, it’s not happening,” said Sibongile Ngako, who recently joined the fintech as chief compliance officer.

    By Caitlin Mullen • July 31, 2024
  • Buy now, pay later
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    I going to make a greatest artwork as I can, by my head, my hand and by my mind. via Getty Images
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    Affirm says CFPB’s proposed BNPL rules will confuse customers

    In commenting on the proposal, the BNPL provider said consumers would be better served by rules specific to BNPL transactions, as opposed to credit card regulations.

    By • July 29, 2024
  • Revolut card with logo
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    Courtesy of Revolut Press Kit
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    Revolut faces more fraud claims than other UK banks: report

    The fintech investigates each fraud claim independently of other cases, and takes such claims “incredibly seriously,” a spokesperson for the company said.

    By Gabrielle Saulsbery • July 25, 2024
  • Senator Richard Blumenthal has called for an expansion of the Electronic Funds Transfer Act to require payment networks to reimburse scam victims.
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    Spencer Platt/Getty Images via Getty Images
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    Zelle, big banks challenge senators on scam reimbursements

    Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.

    By • July 25, 2024
  • Fiserv headquarters in Brookfield, Wisconsin
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    Google Maps

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    Fiserv to leverage artificial intelligence to help merchants

    The payments behemoth says its data team will use AI to mine transactions on its products to help merchants and financial institutions profit.

    By • July 24, 2024
  • Mastercard point of sale, retail
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    Courtesy of Mastercard
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    FTC demands pricing input from Mastercard, others

    The Federal Trade Commission demanded information from eight companies, including the card network, to better understand how consumer data is being used in the pricing of products and services.

    By • July 23, 2024