As the Office of the Comptroller of the Currency receives a spurt of applications for national trust charters from crypto and payments firms, bank trade groups are urging regulators to ensure proposed activities fit within the statutory limits of the charter and the law.
Rather than partner with a startup, 45-year-old Equitable Bank in Canada created a separate brand, EQ Bank, to acquire customers who are ready for an account without a debit card.
-
Ant Group, the company behind Alipay, plans to set up independent boards for its international, database and digital technologies operations as it pushes forward the overhaul of its fintech business, according to a memo seen by Bloomberg.
-
The payments industry is evolving, driven by innovative technologies and a new class of leaders and executives eager to embrace change. Here's what they're prioritizing.
-
Despite fresh waves of online fraud and scams, czars of social media platforms, peer-to-peer networks and blockchain products have renewed ambitions to marry financial services with social apps.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
The Financial Industry Regulatory Authority issued an alert to investors to look carefully into the potential risks of nonrecourse stock-based loan programs before participating in them.
-
Financial advisers closely guard their clients. Now a web-based upstart hopes to nudge its way into the relationship.
-
Citigroup Inc. President John Havens is working to overcome the injuries, many self-inflicted, its investment bank suffered in the financial meltdown.
-
It’s the one consumer loan category where balances continue to fall, and disruption from nimbler fintechs is a big reason why. To win back market share, banks will need to beat the upstarts at their own game.
-
The Federal Housing Finance Agency has far more authority to upend the status quo than most realize, according to a new report.
-
Readers weigh potential risks in the leveraged loans market, debate Herb Sandler's legacy, consider the role the Fed should play in real-time payments and more.
The Northeast regional bank missed expectations on net interest income and negatively revised much of its 2024 guidance.
Trade groups, citing federal banking conflicts, are asking for summary judgment to permanently block a state law banning interchange fees on taxes and tips.
-
Most theories of the case for ESG investing demand that companies act in ways that are counter to the interests of their shareholders.
-
Protecting depositors' stablecoin holdings could be the difference between providing the economy with a new boost and creating unnecessary drag.
-
Policymakers from across the ideological spectrum can work in tandem with banks to ensure every American has access to the financial tools they demand and deserve.
-
Park National Corp's $317 million, all-stock deal for First Citizens Bancshares would give the buyer a presence in markets that are expected to grow faster than its legacy Ohio footprint.
-
Anchorage Digital Bank, Custodia Bank and Erebor Bank could be among the first recipients of limited, special-purpose payment accounts recently floated by Federal Reserve Gov. Christopher Waller.
-
The challenger bank in the third quarter launched Cash Coach, an AI-powered customer insights engine that helps consumers optimize earned interest in deposit accounts and minimize interest charges on credit cards. SoFi plans to roll out a "more comprehensive" SoFi Coach that incorporates all areas of financial services as part of its strategy to rival banks.
-
FirstSun Capital Bancorp plans to buy First Foundation in an effort to accelerate its Southern California growth. The $785 million transaction follows FirstSun's failed takeover of Seattle-based HomeStreet.
-
The acquisition of the prime-focused U.S. fintech is expected to boost Barclays' return on tangible equity and digital capabilities starting in 2027.
-
The payment company launched new tools for merchants and entered artificial intelligence collaborations with OpenAI and Mastercard ahead of the company's second quarter earnings, which beat analyst expectations.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
New guidance outlines specific due diligence and oversight steps banks must take, reinforcing that they are ultimately accountable for vendor failures.
Federal Reserve Gov. Christopher Waller has directed central bank staff to explore the concept of a limited payment account, which would give nonbank entities in the payments space — including crypto firms — access to traditional payment systems.
The 23rd annual ranking of women leaders in the banking industry.
-
Partner Insights from Oracle -
Partner Insights from Fiserv FSC
