Mercantile's pending acquisition of Eastern Michigan is approved by the Federal Reserve Bank of Chicago; the National Community Reinvestment Coalition and Rise Economy announce a $2.5 billion addendum to Columbia Bank's community benefits agreement following its acquisition of Pacific Premier Bank; the Federal Reserve Board and CFPB raise the thresholds for certain credit and lease transactions; and more in this week's banking news roundup.
As artificial intelligence makes analytics better, the question of who gets to benefit from the intel will come up more. Fintech startup wallet.ai believes customers should be told of propensities that might be hurting them.
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The niche buy now/pay later firm is looking for differentiation in a crowded market with recognizable brands like Klarna, Affirm and Afterpay.
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The contract gives the nation's oldest bank access to more than $3 billion in deposits a month. Comerica, the current administrator, has received a three-year extension of service to help with the transfer.
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The Consumer Financial Protection Bureau has significantly raised the transaction threshold for its larger participant rule — which defines which firms will be affected — from 5 million annual payments to 50 million.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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The Silicon Valley lender that caters to affluent millennials has ambitions to become a one-stop shopping destination for financial services.
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Brendan Dickinson of Canaan Partners says PFM startups have deep relationships with customers, unlike online lenders, but the revenue model isn't as strong.
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Executives at the embattled bank made clear Thursday that they are not discarding its long-standing strategy of selling additional products to existing customers.
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The housing agency's prior permanent chief, Brian Montgomery, left the position after he was tapped to become deputy HUD secretary.
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The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.
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The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.
The bank didn't give some existing customers the higher rates it was offering new customers, the agency alleged. The bank said it would fight the suit, which comes just days before the Trump administration takes over the regulator.
As the crypto-friendly GENIUS Act winds its way through Congress, executives at some of the nation's largest banks are showing a newfound enthusiasm for stablecoins.
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The process allows artificial intelligence and machine learning to train on the data of many banks, without compromising customer privacy.
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The banks' resistance to changes being recommended by the Federal Housing Finance Agency do not bode well for their future or that of the industry.
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States need to think twice about allowing earned wage advance programs. They look increasingly like predatory lending.
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Bank groups, crypto firms and regulators are divided over whether fiduciary digital-asset custody fits naturally within the national trust charter model — or whether, as critics argue, the agency is quietly reinventing the charter.
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In a Senate Banking subcommittee hearing, lawmakers discussed a bill that would guarantee all legal industries and all individuals fair access to banking services.
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The de novo bank, which will serve participants in virtual currency markets, is putting the regulatory pieces in place for its planned 2026 launch.
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A breach at an auto lending compliance provider highlights third-party vendor risks and has triggered class action lawsuits against the firm.
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The Nashville community bank is focusing on growing its "digital branches" through fintech partnerships and embedded banking with its latest funding round.
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The New York megabank, which completed the sale of a 25% equity stake in its Mexico retail business, has been exiting certain international markets as part of CEO Jane Fraser's focus on being a simpler, smaller bank.
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Charlie Scharf has a mostly optimistic take on Wells' consumer banking prospects entering 2026. But he's more downbeat about the company's once-dominant residential mortgage business.
PNC is one of the first major banks to offer bitcoin trading services directly to eligible private client accounts in a limited launch with Coinbase.
The 23rd annual ranking of women leaders in the banking industry.
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