BNPL's next battleground is digital wallets; CFPB vs. everybody; earnings

Digital wallets become a buy now/pay later battleground: Amazon Pay — which provides one-click checkout on thousands of e-commerce sites — has added support for Citi Flex Pay, 花旗 's point-of-sale credit card loans, as competition for buy now/pay later customers expands to digital wallets.

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New paper says stablecoin regulation could pull 20% of deposits from banks: Financial regulation scholar Mark Flannery said in a new research paper that small banks would be more likely to be negatively impacted.

Partisanship deepens as GOP-led CFPB bills pass House finance panel: The House Financial Services Committee passed several bills through to the full House that would toughen congressional oversight of the Consumer Financial Protection Bureau.

Read more in regulation: Texas Bankers sue CFPB over small business lending data rule; CFPB issues warning to debt collectors on zombie second mortgages

Bill to give cannabis businesses banking access has bipartisan support: The Secure and Fair Enforcement (SAFE) Banking Act of 2023, introduced in both the House and Senate would allow regulated banks to work with state-legal cannabis companies.

Mastercard braces for the Fed's real-time payment network: Like Visa CEO Ryan McInerney, Mastercard CEO Michael Miebach spent part of his company's earnings call drawing a competitive distinction between the card network and FedNow.

Columbia expects cost savings from merger to exceed $135 million target: The Pacific Northwest bank didn't reveal exactly how much more it expects to save. But executives said that they expect to achieve their earlier target sooner than they previously anticipated.