The fintech investment firm Portage is now managing a $280 million portfolio acquired from the venture arm of Mets owner Steven Cohen's firm Point72.
The creators of a top "altcoin" are building privacy features for JPMorgan's blockchain platform.
-
The direct-to-consumer earned wage access provider is allowing consumers access to their paycheck two days before payday. It's hoping it will draw in more customers.
-
As Klarna wins installment lending for the retail giant's OnePay app, rival Affirm seeks to downplay the loss.
-
Following a media report that Department of Justice staffers have expressed concern about how Capital One's purchase of Discover would affect competition in the subprime credit market, analysts said the portfolio would be tough to sell. But they remain optimistic that the deal will get over the finish line.
Citigroup was so impressed with a test drive of AI software it invested in its maker; the FBI's warning of a cyberattack targeting ATMs came to pass — expect more to come; debating whether state AGs can serve as de facto CFPBs; and more from this week's most-read stories.
-
The Minneapolis bank is pitching the automated investment advice product, a joint venture with a BlackRock unit, to a wide range of age groups, not just younger consumers.
-
SigFig was among an early crop of digital advice firms that shifted their focus to serving wealth managers and banks. It has raised more than $100 million from a variety of investors.
-
They will be deployed to the branches and teach veteran brokers how to make use of the firm's new high-tech wealth management tools, the company says.
-
The Consumer Financial Protection Bureau has moved ahead with an earlier proposal to postpone the full adoption of the qualified-mortgage ability-to-repay rule, citing a need to maximize borrowers' credit access.
-
It would be available to homeowners making 80% or less of their area’s median income who weren't eligible to tap into low rates last year.
-
The investment, tied to PNC's deal to acquire BBVA USA, was always going to be large but seemed to grow as CEO Bill Demchak got intimately involved in the discussions and the needs of communities and businesses hit hard by the coronavirus pandemic became more apparent.
BMO hired former CEO of Citi Private Bank Halé Behzadi to accelerate the bank's growth strategy in California; Pennsylvania's Linkbancorp received regulatory approval to sell its New Jersey operations to a credit union; Dream First Bank announced plans to gain branches throughout Oklahoma; and more in this week's banking news roundup.
Lenders and servicers must determine how quickly to act as some legislators look to enable the move a key regulator has ordered while others urge deliberation.
-
New York Community Bank's acquisition of the failed Signature Bank helped with its liquidity. But there were other considerations that decisionmakers overlooked in allowing the transaction to take place.
-
There were significant red flags that regulators overlooked when allowing New York Community Bank to acquire Signature Bank. Those include the fact that the company was still integrating the Flagstar Bank transaction.
-
The SEC's pending requirement that securities trades settle within one day shouldn't be a problem for any modern financial firm. What we should be aiming for is real-time settlement.
-
President Donald Trump said that lawmakers should support legislation that would require credit cards issued by most large banks to offer merchants the choice between two unaffiliated card networks, one of which cannot be Visa or Mastercard.
-
The Bureau of Labor Statistics reported Tuesday morning that consumer prices rose 0.3% in December, with annual inflation stuck at 2.7%, lending credence to the Federal Reserve's cautious stance toward interest rates heading into 2026.
-
The largest bank in the country bulked up its reserves by $2.2 billion for potential credit hits from the Apple card portfolio, which JPMorgan is taking over from Goldman Sachs.
-
Financial markets took a tumble Monday morning after Federal Reserve Chair Jerome Powell announced that he was the subject of a Justice Department inquiry concerning the central bank's headquarters renovation. Lawmakers and former Fed officials decried the move as political intimidation.
-
Coastal Financial in Washington State has acquired GreenFi, one of its fintech partners. The move is designed to buy time in order to figure out the best long-term strategy for the struggling neobank.
-
Continuing to retreat from Biden-era rules, the Consumer Financial Protection Bureau and Department of Justice withdrew a 2023 advisory opinion that had cautioned about denying credit to immigrants.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
The Netherlands-based digital bank Bunq filed its second U.S. charter application this week after successfully receiving a broker-deal license late last year.
Investors in alternative assets like private equity, private capital and venture capital often lock their money in for years, but Pluto's founders say its marketplace matches these wealthy investors who need cash with banks and investment firms willing to lend against those illiquid assets.
The 23rd annual ranking of women leaders in the banking industry.
-
Sponsored by IntraFi -
Sponsor Content from Upstart -
Sponsor Content from Upstart -
Partner Insights from Tenemos
