Credit unions often get overlooked as local "bit players" in the small business banking arena,
Q2, in Austin, Texas, paid $10.6 million to acquire all outstanding interests in Social Money, according to a Tuesday news release. The purchase price was subject to a customary working capital adjustment.
-
Nearly a dozen states are looking to regulate digital payroll advance products, prompting a fintech trade group to ask the Consumer Financial Protection Bureau to conduct a formal rulemaking.
-
Financially stressed consumers nearing their credit limit use buy now/pay later loans to finance smaller purchases, while wealthier households want to avoid paying interest or carrying a balance on credit cards for bigger-ticket items, according to the New York Fed.
-
The top five fintech and payments M&A deals had a combined dollar volume of more than $23 billion.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
-
Carlyle Group, the buyout firm that on Wednesday unveiled another major investment in the banking sector, distributed more than $6.4 billion to investors in the first quarter.
-
-
LPL Investment Holdings posted strong first-quarter earnings, as a larger fleet of advisers got investors back into investing.
-
Tens of millions of dollars of M&A costs and a decline in mortgage activity offset higher loan income in the first quarter at the two banks, which also offered a timeline for their rebranding and shareholder votes.
-
CUNA Mutual Group's February trends report showed that growth in auto loans, mortgages and membership had slowed.
-
Adolfo Marzol, who has served as an adviser to HUD Secretary Ben Carson, will now report to the new director of the Federal Housing Finance Agency.
General Motors' financial arm has halted its quest for an industrial loan company charter from the FDIC, but is signaling that it will try again. Observers said the automaker may wait until after the presidential election to decide how to move forward.
The banking sector has stabilized significantly since the spring of 2023, but elevated interest rates have created lingering issues on bank balance sheets.
-
The Federal Housing Finance Agency soon will commence a review of the Federal Home Loan Bank System. For the process to be successful, the actual users of the system and the institutions that will be the most impacted by any changes to its mission, mandate or role need to add their voice to the conversation.
-
Jamie Fiore Higgins, a former executive at Goldman Sachs, describes the toxic work environment she endured during her 18 years at the investment bank in her memoir, "Bully Market."
-
The country's largest banks should deepen partnerships with minority depository institutions and community development financial institutions, and regulators should facilitate that process.
-
Panelists speaking at American Banker's Most Powerful Women in Banking conference said they appreciate the deregulatory efforts underway under Trump, but said clarity on tariffs and rules of the road for emerging technologies would unlock future growth.
-
Five years after the government struggled to disburse pandemic relief checks, the Fed is using improved processing for emergency funds as a reason for banks to get onboard with FedNow.
-
Revolut receives a banking license, while SumUp introduces its payments hardware. That and more in the American Banker global payments and fintech roundup.
-
The Department of Justice has filed a motion opposing the Consumer Financial Protection Bureau employee union's appeal of an August D.C. Circuit ruling allowing the administration to fire up to 90% of the agency's workforce.
-
The president of the planned Georgia Skyline Bank says he's cautiously optimistic that his group can raise $35 million of startup capital in time for an opening early next year.
-
The Trump administration has ordered banking agencies to root out and identify instances of politically motivated debanking while at the same time raising pressure on banks to scrutinize or potentially sever their ties with liberal nonprofit clients. That dynamic creates a compliance puzzle with no obvious answers, experts say.
- 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.
New research from American Banker finds that financial institutions are asking about ROI, infrastructure costs and compliance burdens.
America's second-largest bank revised its net interest income target upward after what analysts called a "clean" third quarter.
The 23rd annual ranking of women leaders in the banking industry.
- Partner Insights from Accenture
- Sponsor content from Modo Modo
- Sponsor Content from Oracle
- Partner Insights from Accenture