The Clarity Act's failure is a relief for banks that didn't want even more competition. But the crypto industry wasn't a major headwind for banks anyway.
Over the last 14 years, Chime has risen from fledgling fintech to a poster-child for what successful bank-fintech partnerships can look like. Now, as the neobank stands on the precipice of owning its own bank, it faces new challenges as it gears up to go toe-to-toe with some of the country's largest banks.
A new study based on a survey of more than 500 advisory practices by The Kitces Report sheds light on how the fastest-growing firms are spending their marketing dollars.
As Truist Financial implements the strategy of Chief Executive Michael Lyons, the bank is dropping near-prime auto lending, a business that it says doesn't play to its strengths.
Bill Pulte, FHFA director, has ordered Fannie Mae to update its servicer guide to mirror Freddie Mac policy regarding notifying borrowers about dropping MI.
A high-yield savings account, incentive marketing and artificial intelligence-powered payroll are new additions to a long-standing strategy to lure clients away from fintechs and banks.
