Amazon, Google and other technology giants entering financial services should be subject to the same supervision banks are, Rohit Chopra said in his first congressional testimony as director of the Consumer Financial Protection Bureau. He also said he wants to focus enforcement on large firms that harm many people rather than chasing small companies.

The credit card issuer benefited from consumer loan growth in the third quarter, but investors seemed spooked by increases in its marketing and technology costs.

Lending momentum is building and tourists have come back, but the coronavirus is a lingering concern for a state that relies heavily on vacationers.

Community banks don’t need to match the biggest banks’ digital offerings or advertising budgets. Where they can compete, and win, is by delivering more personalized service.

The recent order by Director Rohit Chopra — issued just days after he was sworn in — demanding that Amazon, Facebook and others hand over information about their payments products is being interpreted as a sign that the consumer bureau wants to take a more active role in regulating the tech giants.

The California bank sued a former executive for allegedly taking trade secrets and using them to build a rival fintech. A recent interim ruling frees Aeldra Financial to move ahead with fundraising while the case continues.

These venture capital firms are investing in young companies that could help small financial institutions meet their growing technology needs.

Piermont Bank in New York expects to double its $347 million of assets in a year by extending working capital to financial technology companies. MainStreet Bancshares in Virginia is taking a different approach, hoping a new banking-as-a-service offering will help investors see it as more cutting-edge.

UBS Group is starting a digital wealth manager in the U.S. to grab a bigger share of the country’s market for retirement savings and stock options, in a move that will pit it against the top Wall Street banks on their home turf. 

Businesses trying to meet a surge in demand for consumer goods are knocking on community banks' doors to finance expansions.

The state has a poor track record of managing customer-facing operations. It’s difficult to see an upside in the current push for a state-run bank — especially when neobanks are already offering the same services it would provide.

Michelle Moore, head of consumer digital at Wells Fargo, is leading development of an entirely new banking app and a virtual assistant named Fargo that will roll out next year.

The Alabama company agreed to buy two nonbank lenders earlier this year. It’s still on the lookout for possible deals, potentially in corporate finance or wealth management, its chief financial officer told American Banker.

Building on four years of rapid growth in Dallas, Business First expects the acquisition to help it grow into a regional bank.

The auto lender’s acquisition of Fair Square Financial would diversify its consumer product lineup. The pandemic derailed its last effort to buy a card company.

Goldman Sachs, Truist and Regions have all made deals to acquire home improvement lenders. Here's why their executives are so bullish on the sector.

DBS Group Holdings and Standard Chartered are among the lenders planning to bid for Citigroup consumer banking assets in Asia as the U.S. lender divests units across five markets in the region, according to people familiar with the matter.

The Indiana company told investors that it’s ready to complete its combination with First Midwest Bancorp but that it’s unclear whether a recently filed mortgage discrimination lawsuit will get in the way of Fed approval.

Fintechs have led the way in installment lending, but banks, credit card issuers and payments companies are responding with products of their own. Here's an overview of what they're rolling out.