A CDFI serving NHS and public sector workers has secured FCA authorisation to pull bank account data directly into its lending decisions — raising the question of whether open banking can finally break the credit-invisible trap for millions of UK consumers.
A class action targeting Apple over fees charged to banks for NFC wallet access has reached a critical procedural milestone, with financial institutions reportedly cleared to pursue the case collectively. The certification step substantially raises Apple's damages exposure and intensifies antitrust scrutiny of its mobile payments model.
US banks have reportedly been cleared to pursue a class action lawsuit against Apple over fees paid for access to Apple Pay, according to a Finextra report that could not be fully verified at time of publication. The precise procedural stage, named plaintiffs and court have not been independently confirmed.
A US court has certified a class action brought by banks challenging the fees Apple charges for Apple Pay access, marking a significant escalation in antitrust scrutiny of Big Tech's grip on contactless payment infrastructure. The case puts America's courts on a path already mapped by EU regulators and Australian banks.
A new PYMNTS-Velera report argues US credit unions represent a structurally underserved fintech distribution channel rivalling national retail banking networks. Our desk examines the claims, stress-tests the membership data and explains why the cooperative model may actually accelerate — not hinder — fintech adoption.
A PYMNTS Intelligence and Velera report argues U.S. credit unions are an underexploited fintech partnership channel, citing NCUA data showing $2.31 trillion in total assets and nearly 146 million members. Rising delinquencies and legacy governance structures, however, pose friction for deals.
CIB Bank has begun offering customers in Hungary free contactless payment rings through a collaboration with McLear's RingPay product, linking directly to eligible CIB Visa and Mastercard cards via Fidesmo's tokenisation platform. The direct-link model removes the need for a separate intermediary account, lowering onboarding friction for cardholders seeking wearable payment capability.
Chime Financial has signed a definitive merger agreement to acquire Central Service Corporation, parent of Stride Bank, for $590 million in cash — converting a seven-year banking partner into a wholly owned subsidiary to be rebranded Chime Bank. The deal, which requires OCC and Federal Reserve approval, is targeted to close in the first half of 2027.