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 fintech firm will use the $5.5 million in funding to expand its operations and improve its products.
-
Steve Squeri told analysts his firm is prepared to compete with small-business technology providers like Ramp and Brex. He also weighed in on the potential payments behemoth that would result from Capital One's purchase of Discover.
-
The technology vendor is going outside the company to hire PNC vet Michael Lyons to replace Trump administration-bound Frank Bisignano, leaving the Pittsburgh-bank without its heir apparent for the top role.
-
The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."
Bankers need to set aside their post-crisis aversion to risk, recapture some of the magic they once practiced as innovators, fear fintechs less, and worry about the Googles and Amazons more, says Peter Memon, a bank IT veteran turned global consultant.
-
The aid helps credit unions create community reinvestment and financial education initiatives.
-
Tim Welsh has spent his first two months on the job thinking about how to make U.S. Bank as central to consumers’ lives as Amazon, develop new personal financial management services, and expand into new cities.
-
The Consumer Financial Protection Bureau's first "National Financial Well-Being Survey" found that a large slice of consumers experience financial hardship.
-
Demand trends were mixed in the third quarter, with consumers showing more willingness than businesses to take on new debt, according to the Fed’s most recent survey on bank lending practices.
-
One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship.
-
The company is looking to tap into a surge of homebuying tied to historically low interest rates.
For the first time since the Eaton Fire erupted more than a month ago, Altadena has a bank branch that's open for business.
Michael Gibson, director of the Federal Reserve's supervision and regulation division, has accepted the agency's voluntary resignation offer and plans to leave this month after more than three decades at the central bank.
-
The Consumer Financial Protection Bureau needs to do more to enhance security while making it easier for consumers to share data.
-
Many banks could benefit greatly from overhauling their internal culture when it comes to meetings. Both performance and morale stand to benefit.
-
The agency's rule represents real progress, but applying it to more kinds of accounts and making other common-sense changes would increase its already significant benefits to consumers.
-
U.S. District Judge Amy Berman Jackson said the administration must request funds from the Federal Reserve, rejecting a Trump DOJ legal theory.
-
The year was marked with six state regulations, new entrants, product and market expansion from existing EWA providers and buy-in from investors.
-
The fintech IPO drought ended this year with several large public exits by firms such as Chime, Klarna and Circle.
-
As stablecoins become an increasingly prominent feature of the financial landscape, Noelle Acheson gives us her top five trends to watch out for.
-
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.
-
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.
- 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.
Terron T. Brown used stolen mail and social media recruits to defraud banks such as PNC and Bank of America of millions, highlighting a rising industry threat.
Some consumers have been waiting a year and a half to get their money back.
The 23rd annual ranking of women leaders in the banking industry.
-
Sponsor Content from Appian -
Partner Insights from Appian -
Sponsor Content from Appian -
Sponsor Content from Appian
