Truist Financial is bulking up its commercial and corporate banking arm by hiring senior executives from rival firms and promoting from within; F.N.B. Corp launches a $46 million-dollar community development program focused on Main Street revitalization; buy now/pay later lender Affirm extends its partnership with Moore Capital through May 2027; and more in this week's banking news roundup.
Some traditional bankers are unsettled by the wave of crypto and fintech banks getting bank charters. This Nashville bank CEO sees opportunity.
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Credit cards with rewards are rewarding only for those who know how to profit from the system, according to a paper released by the Federal Reserve.
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The more that stores reinvent the physical point of sale — or remove it entirely — the more they gather insights that go beyond just the payment. This can be extremely valuable to retailers that know how to use this new information, particularly for targeted marketing.
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More than half of all cross-border payment fees are concealed in exchange rate markups that few consumers understand.
CEO Max Levchin said the lender is testing technology that allows merchants to perform more advanced testing of promotional financing offers.
The regional bank's stock price is down 38% this year, and it recently got downgraded by S&P Global. While there's light at the end of the tunnel — as Key looks to rebound from the negative impact of soaring interest rates — analysts question whether the improvement will take too long to materialize.
The Minneapolis-based Thrivent Financial for Lutherans received approval from the Federal Deposit Insurance Corp. on Friday for its industrial loan company application and planned merger between the institution and subsidiary Thrivent Federal Credit Union.
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The uncertainty from the pandemic has made costs unpredictable, says Ally Lending's Hans Zandhuis.
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Consumers will still prefer minimizing physical contact, while relying on digital payments and looking forward to adopting smarter methods that are secure, convenient, and less time-consuming, says Global Market Insights' Vinisha Joshi.
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Despite tougher privacy regulations, further safeguards are needed that require consumers' clear consent before personal information is exchanged.
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The prolific purchaser is entering the state in a bid to expand its Southwest presence.
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The ABA's new service adds payee name validation to help banks fight growing fraud risks.
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New self-regulatory guidelines for credit cards and checking accounts are arriving at a time of deregulation in Washington, D.C.
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Senate Banking Committee ranking member Elizabeth Warren, D-Mass., sent a letter to banking regulators urging them to preserve the enhanced Supplemental Leverage Ratio, warning that a rollback would only enrich bank shareholders.
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Ark Investment Management has offloaded about 1.5 million shares of Circle over four recent trading sessions, worth roughly $333 million, according to Bloomberg. Wood's firm as a whole remains the eighth-largest holder of Circle.
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Cincinnati-based First Financial scooped up Westfield Bank near Cleveland after Westfield's parent company decided to exit the bank space and focus on its core insurance business.
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A report from Democratic staff on the Senate Permanent Subcommittee on Investigations said accounting firm KPMG gave Silicon Valley Bank, Signature Bank and First Republic clean audits despite internal warnings, fraud allegations and apparent risks of failure.
The payment company has made a series of moves to bolster its stablecoin and other coins to build a market for digital assets. Its Links feature adds to the strategy.
The 23rd annual ranking of women leaders in the banking industry.
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