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"We want to be the antithesis of what banking currently is," says Don Allen Price.
Ever since the financial crisis, starting a bank from scratch has been hard. But opening a digital-only de novo bank is an especially tall order.

Top Stories

A new survey reveals challenges and opportunities for banks looking to serve younger entrepreneurs. Hint: they crave financial guidance and are in it for the long haul.  more »
The vast majority of big banks seem to be getting a handle on the costly, labor-intensive and time-consuming stress-testing process. But for a pair of large banking companies, Santander Holdings USA and Deutsche Bank Trust Corp., the stress tests have so far proven to be an unconquerable challenge.  more »
After the departure of Financial Crimes Enforcement Network's director last month, the future of the Treasury Department unit remains the subject of fierce speculation within the financial services industry.  read more »
FinTech Forward
Three Fintech Reforms the Government Must Champion
Attendees at the recent White House fintech summit shined a spotlight on shared innovation challenges. To overcome them and help the U.S. make progress in financial services, we need to embrace these three regulatory reforms.  read more »
The question of whether bitcoin is actually money is at the heart of a case of a man charged with selling $30,000 worth of the virtual currency to an undercover police officer.  read more »
Suffolk Bancorp said increased oversight of commercial real estate contributed to — and may have accelerated — its decision to sell to People's United. Other banks could make a similar choice.  read more »
After the United Kingdom's surprising vote to exit the European Union, the financial markets are in turmoil and U.S. banks are left trying to assess their risks.  read more »
The recently rebranded California International Bank has stiffed the government on 30 dividend payments and has spurned a request to let Treasury officials observe its board meetings. There is some optimism; a Vietnamese businessman was approved to take over control after injecting $4.5 million in capital into the bank.  read more »
Large banks are gaining momentum as regional banks stall in the annual American Banker/Reputation Institute Survey of Bank Reputations. Chase even barreled its way into the top 10 of the customer ranking.  read more »
FICO on Why Its Scores Are Still Relevant
Marketplace lenders have been declaring "FICO-free Zones" and playing down the need for the longstanding measure of creditworthiness. FICO CEO Will Lansing explains how the company's score is evolving and why he believes FICO remains the best (not necessarily the only) way to determine ability to repay a loan.
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