The Office of the Comptroller of the Currency Friday terminated a 2022 enforcement order against Anchorage Digital, the first federally regulated crypto bank, at a time when fintechs and crypto firms are increasingly seeking national trust charters.
More nonbank digital asset firms are applying for national trust charters, a development that many banking organizations oppose due to what they say is inadequate oversight, lack of congressional intent and no FDIC backstop.
The Federal Open Market Committee member is the third Democrat the Trump administration has accused of committing occupancy fraud.
The Charlotte, North Carolina-based bank, which is focusing its growth push in the Southeast, is also planning to renovate 300 existing offices as part of an effort to attract more mass-affluent customers.
The Swedish financial institution will sell future buy now/pay later originations to Nelnet. Also, RBC and BMO may sell their payments joint venture; and other news in the global payments and fintech roundup.
Scott Simpson, the next CEO of America's Credit Unions, talked to American Banker about how he plans to fend off a "clear attempt to try to destroy the business model."
The Ohio bank bought DTS Connex to expand its cash management services for businesses with multiple locations, like retailers, restaurants and health care providers.
FinTech Forward, a collaboration of American Banker and BAI, brings together the research, media, and event capabilities of banking's top two professional information and education organizations.
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Everything from company culture to data security concerns is hamstringing the pace of automation in financial services, per new American Banker research.
August 19
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Banks want to reclaim their position as the central node in the customer relationship by charging fintechs and data aggregators for access to permissioned customer data. How the legal questions about this are resolved will be a telling moment for all concerned.
August 18
Ludwig Advisors -
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Medallion Financial CEO Andrew Murstein sees more growth on the horizon for the New York lender's fintech banking operation, which saw activity spike in the first half of the year.
August 15
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The former head of resolutions at the FDIC has high hopes for a bank that's been embroiled in the Synapse disaster.
August 14
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New data from American Banker finds that use cases for intelligent automation are growing across banks and credit unions alike, such as fraud and lending.
August 13
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The crypto-focused firm's OCC trust bid would shift supervision from New York to Washington at a time when regulators are signaling openness to fintechs engaging in banking
August 12
Mobile phones are only going to become a bigger part of how banks interact with their customers, so several institutions are looking to enhance that experience. They are focusing on better ways of opening accounts, verifying identities, interacting with customers and offering new services and features. Here are some of the improvements announced this year.
In the age of big data, banks should be king. After all, which industry knows more about people and how they behave than the holders of deposits? But all that data is useless without leaders who know how to effectively analyze it. American Banker recently polled data and analytics chiefs at banks about the trials and tribulations of big data and the art of finding insightful information. Here are some of their responses.
The era of banks and fintech companies cozying up to each other is in full bloom. Fintechs realize they can better disrupt the industry from within, while banks are looking for partners to help them navigate the digital world. Here's a look at how banks worldwide are buying, investing in and in some cases lending to fintech firms.