The Consumer Financial Protection Bureau (CFPB) issued a new report finding consumers encounter numerous problems with credit card rewards programs. Consumers tell the CFPB that rewards are often devalued or denied even after program terms are met. Credit card companies focus marketing efforts on rewards, like cash back and travel, instead of on low interest rates and fees. Consumers who carry revolving balances often pay far more in interest and fees than they get back on rewards.

Wells Fargo & Company announced today the launch of Signify Business Cash World Elite Mastercard®, its new business credit card with industry-leading cash rewards.

Corpay, Inc., a leading corporate payments company, today announced that it has signed a definitive agreement to acquire Paymerang, a leader in accounts payables automation solutions. The acquisition expands Corpay’s presence in four attractive vertical markets: education, healthcare, hospitality and manufacturing.

O3 Capital (“O3”), a leading Nigerian fintech and the country’s first non-bank credit card issuer, has announced an agreement with American Express to issue four new American Express® credit cards: the O3 American Express® Green Card for consumers, the O3 American Express® Gold Card for consumers, and the O3 American Express Platinum® Card for consumers; and the O3 American Express® Gold Business Card for small- and medium-sized enterprises (SMEs). 

LTX, a subsidiary of Broadridge Financial Solutions Inc., today announced its integration with MultiLynq, a leading provider of electronic fixed income trading connectivity and integration solutions, to accelerate connectivity to the LTX platform.

Greenboard, a new compliance and operations software company for financial services, announced today that the company has completed a $4.5 million Series Seed funding round led by Base 10 Partners, with participation from Y Combinator, General Catalyst, Wayfinder Ventures, Liquid2 Ventures, Twenty Two Ventures, Rogue Capital, Transpose Platform, and others.

Thunes, a global money movement innovator, has joined forces with Pomelo, a pioneering credit-powered remittance company and credit card issuer, to introduce a groundbreaking international money transfer solution from the United States to the Philippines. This strategic partnership transforms the way remittances are handled via Thunes' digital wallet integration, reducing costs and connecting families in new ways.

It’s no secret that the credit card approval process is complex. But because it involves several entities accessing highly sensitive data - the applicant, the bank, credit bureaus and credit scoring agencies - it’s also vulnerable, open to identity theft and financial fraud.

Equals Money has today announced its collaboration with music-focused financial management platform, Chorus TM. The innovative platform, created by entertainment industry veterans, Simon Liddell and Freddy Greenish, and powered by Equals Money, offers a one-stop, cutting-edge platform for artist managers, business managers, tour managers, and others working in the music and entertainment industry.

Citi has made a strategic minority investment in Cicada Technologies Inc.

The investment was made by Citi’s Markets Strategic Investments unit, which is responsible for the sourcing and execution of strategic investments relevant to Citi’s Markets franchise. Citi will also act as a liquidity provider for the trading platform.