Over the last 14 years, Chime has risen from fledgling fintech to a poster-child for what successful bank-fintech partnerships can look like. Now, as the neobank stands on the precipice of owning its own bank, it faces new challenges as it gears up to go toe-to-toe with some of the country's largest banks.
Anxieties over AI drew attention from Democrats and Republicans during Treasury Secretary Scott Bessent's testimony at the House Financial Services Committee.
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Consumers' spending and payment behaviors were "holding very firm" despite inflationary pressures, Synchrony Chief Financial Officer Brian Wenzel said at the Barclays Global Financial Services Conference.
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The digital asset and card-issuing firms are supplying the guts to enable transactions for cards and digital wallets, betting that Mastercard's ties to both firms will be attractive to banks, consumers and merchants.
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The institution tested USBDC in an international payment ahead of a wider rollout and amid its work on the cross-industry Open Standard stablecoin project.
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I don't go in much for 9/11 retrospectives. I've never seen any documentaries about it, never seen any movies about it, never read any books. I don't need to. I saw the event itself.
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Less than half the information banks share under the program relates to money laundering or terrorist financing, by Fincen's own count. Most is fraud.
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Abacus Federal Savings Bank in Chinatown scrambled to reopen in the days following the World Trade Center attacks. The exercise resulted in the bank's first disaster-recovery plan.
North Carolina-based First Citizens BancShares completes its acquisition of 138 branches across 11 states; City National Bank appoints Chad Lloyd senior vice president and head of RBC U.S. Mortgage; London-based payments processor Checkout.com launches its U.S. subsidiary in Georgia; and more in this week's banking news roundup.
Bill Pulte, FHFA director, has ordered Fannie Mae to update its servicer guide to mirror Freddie Mac policy regarding notifying borrowers about dropping MI.
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There wasn't just one recipe for landing among the top-performing banks with $50 billion or more in assets. There were two — or, in some cases, a mix of both.
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OFG Bancorp, the parent company of Oriental Bank, has steadily climbed American Banker's rankings of the nation's top-performing banks. Here's how the Puerto Rican bank did it.
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United Bank and Five Points Bank, both ranked among the top-performing banks by Capital Performance Group, said they have stayed in the mortgage business because they see it as a way to build strong relationships in the communities they serve.
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Just because apps can categorize your spending and provide feedback doesn't mean that those insights are always helpful, or even welcome. Some empathy needs to be built into their design.
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Parties trying to restrict stablecoin rewards have been relying on a trio of false claims that, despite public debunking, continue to be spread. At some point, the repetition of fake talking points begins to look purposeful.
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Banks are racing to adopt artificial intelligence while often de-emphasizing basic banking education — human intelligence — at the new employee, executive, and board levels. That's a recipe for disaster.
There's been an onslaught of nonbank financial technology company charter applications and approvals already this year.
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A new study based on a survey of more than 500 advisory practices by The Kitces Report sheds light on how the fastest-growing firms are spending their marketing dollars.
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Advisors discussed how they guide clients through the competing priorities of saving for their own retirements versus their children's college educations.
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Advisors are still slow to plan for handing down their businesses, in part because of difficulties finding new owners they can trust.
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More depositories are getting involved in the securitized market and the competition is likely to add to expense management challenges of smaller balance loans.
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The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
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The decrease in jumbo availability accounted for much of the drop in the latest mortgage credit index, as conforming and government offerings were unchanged.
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Increased costs, a limited consumer pool and churn are pressuring the financial institutions that are competing in the luxury card market.
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Republicans released a new version of the crypto bill ahead of a scheduled vote. But even with the changes, Democrats have little incentive to offer support.
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Polling suggests that Democrats could retake control of the House and have a formidable shot at the Senate as well. If they win both chambers, oversight of bank regulation, crypto and Trump administration officials will be the name of the game.
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Mirroring the efforts of a number of larger institutions, Portland-based Northeast Bank plans to open a de novo branch in Bangor and renovate its seven existing branches.
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Research from Cerulli Associates suggests that many RIAs have a long way to go with AI adoption while already finding possible ramifications for back-office staff.
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Structural change in banking is rarely defined by technology alone. Rather, leaders who know when to invest, where to modernize and which risks are worth taking are driving it.
The 23rd annual ranking of women leaders in the banking industry.
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