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Three members of Congress said Thursday (July 3) that they sent a letter to each of the banks that own the Zelle peer-to-peer (P2P) payment platform, asking what those banks are doing to combat social media scams. [contact-form-7] The letters were prompted by a proliferation of these scams and by the decision of one of […]

OpenAI unveiled a way for retailers to create artificial intelligence (AI) shopping assistants in Shopify, according to a post on X. [contact-form-7] With a few clicks, developers can now connect the Storefront Managed Compute Platform (MCP) server directly to the OpenAI Responses API to build agents that can search for products, add items to a […]

The Federal Deposit Insurance Corp. (FDIC) processed a surge in consumer complaints in 2024, with credit cards being the most frequently cited product and credit reporting disputes being the most common issue. [contact-form-7] The agency’s National Center for Consumer and Depositor Assistance, Consumer Response Unit (CRU), registered 26,451 written complaints and telephone inquiries last year, […]

In May 1999, a group of entrepreneurs launched an online B2B website called Alibaba.com, which operated out of a small apartment in Hangzhou, China. Its goal was to connect Chinese manufacturers and trading companies with overseas buyers. [contact-form-7] Over the decades, Alibaba would branch out into other businesses to become the largest eCommerce company in […]

A boom in the use of dollar-backed stablecoins could destabilize the global payment system, Amundi Asset Management Group Chief Investment Officer Vincent Mortier told Reuters in a report posted Thursday (July 3). [contact-form-7] While Mortier said he had not fully made up his mind about stablecoins, he said they could cause a major shift in […]

The Consumer Financial Protection Bureau (CFPB) reports that the ranks of the “credit invisibles” in the U.S. have thinned. [contact-form-7] But there are still 25 million unscored individuals. As reported by the agency, 2.7% of the adult population are considered credit invisible, reflecting an update to data and the methodologies employed by the CFPB. A […]

The battle between Amazon and Walmart is hardly recognizable today relative to 10 years ago. [contact-form-7] As artificial intelligence (AI) and automation become the invisible infrastructure underpinning global commerce, the Amazon-Walmart rivalry, long emblematic of the old guard versus the new, is turning into a real-time case study in retail’s transformation. It’s no longer just […]

Employment grew in June at about the same rate it’s been increasing over the past year, with gains in state government and health care and losses in federal government. [contact-form-7] The month’s increase in nonfarm payroll employment was gauged at 147,000, which was in line with the 12-month average monthly gain of 146,000, the Bureau of […]

JPMorgan Chase reportedly reorganized its private bank and named a global head of the bank, which is a new role. [contact-form-7] David Frame, who previously served as the U.S. head of the private bank, has been appointed to the new role, the Wall Street Journal (WSJ) reported Thursday (July 3). The reorganization of the private bank and the […]

One of the overarching themes of 2025, outside of its notable levels of uncertainty, is the convergence of traditional finance (TradFi) and crypto markets. [contact-form-7] That theme got a shot in the arm this week, with the news Wednesday (July 2) that J.P. Morgan is reportedly developing a new service to tokenize carbon credits, while […]