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Citigroup reportedly plans to lay off an unspecified number of employees in March after cutting about 1,000 jobs this month.
The March layoffs are likely to involve managing directors and senior employees across the bank’s business lines, but the scale and location of the cuts are not yet known, Reuters reported Friday (Jan. 23), citing unnamed sources.
Citigroup told Reuters, per the...
Capital One’s acquisition of Brex, announced Thursday (Jan. 22), signals that the economics and mechanics of commercial card issuance are changing.
As commercial cards move beyond travel and entertainment into core payables, procurement and supplier payments, the burden of running modern card programs for smaller issuers has grown heavier.
In essence, Capital One is buying a fast-...
Buy now, pay later (BNPL) provider Affirm aims to establish a bank subsidiary called Affirm Bank.
Affirm submitted applications to the Nevada Financial Institutions Division and the Federal Deposit Insurance Corporation (FDIC) to establish a Nevada-chartered industrial loan company, the company said in a Friday (Jan. 23) press release.
The proposed bank subsidiary would enable Affirm...
Hackers only need to get it right once to wreak havoc.
This week, a congressional committee hearing, “Oversight of the Department of Homeland Security: CISA, TSA, S...
The Justice Department is reportedly investigating allegations that human resources company Deel recruited a spy inside rival firm Rippling.
The U.S. attorney for the Northern District of California sent out grand jury subpoenas seeking information about the alleged plot, The Wall Street Journal reported Friday (Jan. 23), citing unsealed court documents.
A spokeswoman for Deel told the...
Revolut is shifting its U.S. playbook again. The U.K.-headquartered FinTech has dropped plans to buy an American bank and is now preparing to pursue a standalone U.S. banking license, a move that would give it a clearer path to scale lending and other core bank services in the world’s largest retail finance market.
According to the Financial Times, Revolut has been in discussions with...
Gen Xers’ new round of penny-pinching could be bad news for consumer spending and the economy.
Comprised of around 65 million individuals now age about 46-61, most in their prime earning years, the generational cohort spends more than any other age group. The typical Gen X American spent $96,941 in 2024, $18,000 more than the average consumer, U.S. Bureau of Labor Statistics data shows...
Small businesses are sending lenders the message that credit is broadly within reach, so the real fight is over flexibility and control.
That was the central theme of the PYMNTS Intelligence report “SMB Growth Monitor: Small Businesses, Big Credit Needs,” which drew on a survey of 514 small- to medium-sized business leaders in the United States conducted over the summer.
It found that...
“Wage to Wallet Index: The Divided Recovery: Labor Economy Workers Face an Uncertain 2026” is a collaboration between PYMNTS Intelligence, WorkWhile and Ingo Payments. This month’s report examines the financial outlook of the Labor Economy—roughly 60 million U.S. employees who earn about $25 an hour or less and form the on-the-ground workforce that keeps production, distribution and service...
Amazon reportedly plans to start laying off about 14,000 corporate workers as soon as Tuesday (Jan. 27).
These cuts will be part of the second round of a broader plan to eliminate 30,000 corporate jobs, and they will follow the first round that involved 14,000 layoffs in October, Reuters reported Thursday (Jan. 22), citing unnamed sources.
The latest round is likely to impact four...