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NEW YORK—The availability of buy now, pay later and merchant-offered installment plans is increasingly influencing where consumers choose to shop, book travel, seek healthcare and even buy groceries, with younger consumers and heavy pay later users showing the strongest response, according to new research from PYMNTS Intelligence.

NEW YORK—Chief financial officers are becoming more cautious about the U.S. economy amid rising geopolitical tensions and inflation concerns, but many are still pursuing acquisitions, technology modernization and growth initiatives, according to the latest U.S. Bank CFO Insights Report.

ATLANTA—Federal Reserve Gov. Michael Barr said financial institutions should move beyond simply expanding access to accounts and focus more directly on whether products are improving consumers’ financial health.

SAN FRANCISCO—The Ninth Circuit Court of Appeals has ruled that Bank of America can force business checking account customers into arbitration in a proposed class action accusing the bank of improperly charging overdraft fees, handing the bank a procedural victory in the long-running dispute over its account practices, Law360 reported.

BASEL, Switzerland—Artificial intelligence startup Anthropic is preparing to brief the Financial Stability Board on cyber vulnerabilities in the global financial system that its upcoming AI model, Mythos, may be capable of identifying, according to Reuters.