PayPal's board of directors is reportedly unimpressed with Stripe and Advent International's $53 billion offer to buy the company. Analysts had speculated that the offer may be low, despite the fact that it came in at a 30% premium compared with other merchant processors.
The regional bank revealed plans Thursday to close most of its supermarket-based branches and replace about half of them with new, nearby standalone branches. The multiyear transition could attract $20 billion to $30 billion in low-cost deposits, executives said.
The customer-sourced investment will continue to support the digital banking provider's AI and digital loan origination initiatives.
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How J.P. Morgan Payments is dealing with smart contracts and using a public blockchain.
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The U.K.-based bank renewed its longest tenured co-brand program, which has been running for more than 20 years, for another decade. The renewal will help the bank expand its consumer banking portfolio.
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The payment company's Cash App Borrow has expanded lending volume by about 300% in about a year following its FDIC approval to expand lending. The company analyzes payment activity to vet loans in an effort to beat banks to consumers.
The deal is the latest in a series of acquisitions by bank core provider CSI, which is further expanding its offerings for regional and community banks.
A coalition of 20 state attorneys general, most of them Democrats, is opposing efforts by the high-cost lenders Enova International and Opportunity Finance to acquire banks. The state AGs warn that the companies are trying to dodge state interest-rate caps.
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The recently announced consortium of crypto companies behind OpenUSD, a new dollar-denominated stablecoin, will have to demonstrate that it can build partnerships with banks and intermediaries before it can challenge USDC and Tether.
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Investors in a panic about private credit valuations need to draw a distinction between funds backing AI-threatened software companies and those whose collateral includes the hard assets of frontier AI companies themselves.
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As written, new capital standards for U.S. banks fail to account for the additional risk posed by many home loan clients who obtain second mortgages. Fixing the problem will significantly reduce the rule's benefit to banks.
There's been an onslaught of nonbank financial technology company charter applications and approvals already this year.
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ADHD can cause a slew of financial woes for clients, leaving them feeling overwhelmed, frustrated or emotional. Here is how advisors can help them build their confidence and stay on track.
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In its annual survey of industry consolidators, DeVoe and Co. detects signs that the upward march of RIA deal valuations may soon come to a halt.
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Clients with concentrated stock holdings might be better off turning their portfolios into ETFs in a tax deferral transaction called a Section 351 conversion.
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Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.
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Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.
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Michael Burry, a GSE investor and early predictor of the Great Financial Crisis, is eyeing the senior preferred liquidation preference and a 2028 deadline.
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FINRA's annual snapshot shows how the wealth industry is changing, from key business metrics and marketing trends to shifts in registration and a shrinking branch footprint.
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The central bank failed to prevent critical economic information from falling into the hands of "foreign adversaries," according to a report from its inspector general.
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A one-time chief lending officer for Heritage State Bank has been barred from the industry for signing off on mortgages backed by over-valued appraisals.
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As the SEC pushes to widen access to private equity, private credit and other alternative investments, Morgan Stanley and Envestnet are among firms that already have funds no longer aimed exclusively at "accredited investors."
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An albeit smaller sample of financial advisors participating in FP's Compensation Survey nevertheless reflected the industry-wide trend around gender pay gaps.
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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.
National banks are committing billions of dollars to fund the construction. But there's room for smaller institutions and credit unions.
The 23rd annual ranking of women leaders in the banking industry.
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Partner insights from Dell Technologies with NVIDIA -
Partner insights from Dell Technologies with NVIDIA -
Partner insights from Dell Technologies with NVIDIA -
Partner Insights from Dell Technologies with NVIDIA
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Partner Insights from ProSight Financial Association - Partner Insights from Alloy
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Partner Insights from Alloy -
Partner Insights from Alloy
