Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment's own systems.
The incident will fuel the debate on Wall Street over whether digital coins are secure enough to enter the mainstream of finance.
-
The stock started trading at $31 and closed Monday at $263.45. Circle has been the main beneficiary of the euphoria surrounding stablecoin regulations, as it is one of the few publicly traded companies with stablecoin-linked assets.
-
Citigroup is on a quest to modernize its global payments stack and be the go-to financial institution for cross-border payments and international corporations. Debopama Sen, head of payments at Citi's Services business, spoke with American Banker about the divisions' progress since its Services Investor Day in June 2024.
-
The financial technology seller plans its own coin and interoperability with PayPal's PYUSD, potentially reaching millions of consumers and merchants and thousands of banks.
The agency sought industry feedback on a host of potential changes to ensure that rules are “sufficiently flexible and clear in light of the technological advances that have transformed the financial industry over the past two decades."
-
Project 2025, a new venture from the Children's Miracle Network's Credit Unions for Kids program, has tapped 10 young credit union leaders to envision how the industry can improve its corporate giving.
-
Jacqueline Howard's personal interest in helping close the wealth gap prompted her to steer Ally Financial toward a more concerted effort on this front.
-
Congress has returned from its two-week vacation with plans to debate a number of issues important to the credit union industry.
-
Investors are looking past the current boom in loan activity, fearing that inflation and other factors will cool demand and make it harder for borrowers to make payments.
-
These standout performers all reported a three-year return on average equity above 14%. Two of them topped 20%.
-
BayFirst Financial Corp. said it initiated the process of shuttering its out-of-state network of residential mortgage loan production offices.
The bank's investors hope to see the small community bank in Utah transform and grow into "a minority-owned version of Ally," as board chair Ashley Bell put it.
An updated deposit insurance reform bill from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would raise deposit insurance for business accounts to $10 million, exclude the largest banks from coverage and insulate community banks from footing the bill.
-
It is nonsensical for the government to sue one of the leading lenders in an underserved minority community as a means of encouraging more lending in that community.
-
Decentralized digital ledgers offer financial services supervisors extraordinary access to information while eliminating concerns about information reliability. That should be reflected in regulatory attitudes toward crypto.
-
The Home Loan banks have been a stable source of community bank funding for generations. An unnecessary regulatory crackdown now puts that reliability in question.
-
Community bankers say credit unions and new fintech entrants are increasing the competition for deposits and loans, even as deregulation is lowering capital and compliance costs, according to a new survey from reciprocal deposit provider IntraFi.
-
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.
-
Pulte says a GSE stock offering remains likely in 2026, but other policy paths are in play. NMN survey data shows the industry expects broader changes first.
-
Federal Reserve Gov. Stephen Miran, who had been on a leave of absence from his position as Chair of the White House Council of Economic Advisers since he was confirmed to the central bank in September, resigned his CEA role Tuesday to uphold his promise to resign his White House role if he remained past the expiration of his term, which concluded Jan. 31.
-
The Spanish banking giant, which has been trying to grow its U.S. business, plans to acquire the Connecticut-based parent company of Webster Bank.
-
The crypto and payment fintechs both debuted on the stock market in late January with strong openings, then traded down ahead of a four-day partial government shutdown.
- 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.
Former Fed Gov. Kevin Warsh is a relatively known quantity to financial markets, but his embrace of President Trump's agenda and the White House's own contentious relationship with the central bank make it hard to know with certainty where — or even whether — he will lead the Fed.
The Long Island-based bank returned to profitability during the fourth quarter of 2025. The results mark "a significant milestone" in the bank's turnaround plan, CEO Joseph Otting said.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsored by S&P Global
- Sponsored by S&P Global
- Sponsored by S&P Global
-
Sponsor Content from Elan Credit Card
