Earned wage access fintechs say the Consumer Financial Protection Bureau's advisory opinion provides important clarity on the finance product, but legal experts warn that its practical impact could be minimal.
The ICO fundraising model has already yielded more than $230 million for startups.
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Money remittance provider Wise said it "strongly disagrees" with the Consumer Financial Protection Bureau's characterization that it advertised inaccurate fees and did not properly disclose exchange rates.
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The credit card issuer's earnings missed Wall Street estimates, but it reported improvement in sales, delinquencies and charge-offs. Management said unclear political direction and cloudy monetary policy could threaten an already conservative outlook for 2025.
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CEO Michael Miebach says the card network's business in areas such as debit cards will enable it to compete if the mega merger results in the loss of Capital One's debit business.
Readers react to the change in tone at the Consumer Financial Protection Bureau, the launch of voice-command banking on Amazon’s Alexa, how regulation affects financial innovation and more.
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The banks' newest offerings hope to attract young clients and keep them there for life. But they face stiff competition.
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The fintech is partnering with Choice Financial in North Dakota to create a Douugh-branded checking account and debit card that will prominently feature an AI-based virtual assistant named Sophie.
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The Hispanic population in Indiana has more than doubled since 2010, creating a big opportunity for credit unions there.
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The Trump administration has moved forward on a plan to privatize Fannie Mae and Freddie Mac, but Joe Biden appointees could take steps to slow or stop their release from conservatorship.
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The new capital framework for Fannie Mae and Freddie Mac is a prelude to letting the mortgage giants potentially retain all their earnings. But efforts to privatize the companies could face pushback from the Biden administration.
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The median credit score for new mortgages and refinancings climbed to 786 during the third quarter, its highest level in more than two decades, according to a report from the New York Fed.
The legendary investor expressed his inclination for equities even after selling large chunks of Berkshire Hathaway's investments in three major banks. "That preference won't change," Buffett wrote in his annual letter to shareholders.
The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
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Regulators in the coming weeks or months will have to decide whether or how to finalize last year's Basel III endgame capital proposal, but there are risks — and rewards — to whichever path they choose.
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Banks must work closely with technology companies, regulatory authorities and each other to develop comprehensive strategies to combat deepfake fraud.
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"Don't fight the Fed" is the mantra of investors. But, when the Fed does not allow banks to meet the needs of their communities and shareholders through unfair regulations, like the politically motivated CRA final rule, bankers have no choice but to go to court to seek regulatory justice.
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The fintech IPO drought ended this year with several large public exits by firms such as Chime, Klarna and Circle.
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As stablecoins become an increasingly prominent feature of the financial landscape, Noelle Acheson gives us her top five trends to watch out for.
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It's not just Capital One Cafés; banks all over the country are repurposing branches and offices. Marketing experts call it innovative, but critics say some lenders are crossing a legal boundary between banking and commerce.
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Under a proposed rule, the agency would let most nationally chartered firms off the hook for heightened regulatory standards. The rule would raise the bar from $50 billion to $700 billion of assets and leave only eight firms subject to heightened regulation.
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Stories about data breaches, fraud and one neobank were reader favorites this year.
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The Federal Reserve is slated to undertake a number of important rules and regulations in 2026, but decisions around agency leadership and the Trump administration's avowed effort to exert greater control over the central bank are likely to leave a lasting legacy at the agency.
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Ida Liu, who resigned from Citi earlier this year, will join HSBC on Jan. 5 as the CEO of the private bank. Liu will be tasked with accelerating the growth of the private bank "at a defining moment for wealth," she said in a LinkedIn post.
Once its second deal in less than three years closes midway through 2026, the Alexandria-based company will operate more than 100 branches and hold $11 billion in assets.
The 23rd annual ranking of women leaders in the banking industry.
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