WomenVenture, a Minneapolis-based Community Development Financial Institution, was already under strain from stalled federal CDFI funding. The recent immigration crackdown added significant uncertainty for its customers as well.
Ripple announced several new customers Tuesday. The startup says its software, designed to compete with Swift, allows banks and others to send cross-border payments more quickly, transparently and cheaply.
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The pending law, which has passed the Assembly and Senate, prohibits food and retail stores from refusing to accept cash payments. Cashless establishments have been prohibited in New York City since 2020.
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Pro-crypto regulations could draw U.S. banks into the market, providing fresh competition. CEO Paolo Ardoino spoke with American Banker about the digital asset firm's strategy.
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Synchrony issued the Walmart credit card for nearly two decades until 2018, when it lost the partnership to Capital One Financial. The latest deal does not include the balances tied to Walmart's existing credit card program.
In a move to aid faster expansion and provide more security and regulatory compliance tools, Klarna Bank in Sweden is strengthening its longtime relationship with Amazon Web Services by making it the bank's preferred cloud provider.
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Flourish, a fund backed by Pierre and Pam Omidyar, invests in startups that address social and financial inequities yet (key caveat) are still promising moneymakers, a top official of the fund explains.
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Nick Zappia is joining the bank from rival BNY Mellon in what is one of the first key hires of new CEO Kelly Coffey.
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The regional bank, which recently agreed to buy SunTrust, is co-developing a game to help elementary-school kids learn to read.
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Former Federal Reserve Gov. Daniel Tarullo and two Fed economists argue that the Federal Home Loan banks have expanded into activities that pose risks to financial stability.
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The 30-year average has made a steep reversal over the past two weeks following a large acceleration in mid-June.
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The bank began trimming its payroll after a dismal first-quarter origination performance. It will announce second-quarter results next week.
Oxford Bank appears poised to reap benefits from a substantial investment in building out its commercial finance subsidiary. The business, which provides credit to companies that aren't a good fit for bank loans, has moved into the banking mainstream over the last 15 years.
Michelle Bowman, the Federal Reserve's vice chair for supervision, is focused on reforming the central bank's oversight apparatus.
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The Consumer Financial Protection Bureau is in the business of promoting economic justice. A second Trump administration might permanently damage the agency's ability to deliver for American consumers.
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Around the world, low-income communities are routinely cut off from modern payment infrastructures, causing serious economic harm. We must work toward a future in which they are included.
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The Bureau of Labor Statistics has been so underfunded, for so long, that it has been forced to propose cuts to the vital Current Population Survey, which tracks the unemployment rate. Congress cannot allow that to happen.
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Fidelity Digital Assets, the national crypto trust bank subsidiary of Fidelity Investments, is set to launch a dollar-backed stablecoin on ethereum.
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President Trump's announcement Friday morning that former investment banker and Fed Governor Kevin Warsh would be his selection as the next chairman of the Fed ends months of speculation and gives the president a key ally at the central bank.
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The Office of the Comptroller's interpretation of federal trust powers has opened the door for dozens of charter applications by nonbank crypto firms in recent months. Some experts say the agency's interpretation may push the ambiguous statute beyond its limits.
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CEO Ryan McInerney reiterated the company's long-held stance that the Credit Card Competition Act was "very harmful" and "just simply not needed."
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The Brazil-based fintech got conditional approval from the OCC to bring its digital banking services to U.S. customers.
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A Government Accountability Office report warns the Office of the Comptroller of the Currency to clarify which records from the Basel Committee on Banking Supervision should be treated as federal records and thus retained according to the Federal Records Act.
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As the Federal Open Market Committee announces its near-term interest rate plans Wednesday, market watchers expect the central bank to hold interest rates steady as policymakers seek greater clarity on the health of the economy.
Julia Carreon is suing the bank, alleging she suffered race and sex discrimination, including sexual harassment by Andy Sieg, the bank's head of wealth management. On Tuesday, Citi hit back by filing a petition to compel arbitration and accusing Carreon of making false claims.
The 23rd annual ranking of women leaders in the banking industry.
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