Daily Edition

While larger lenders retreat from the sector, SouthWest Bank recruited a new team to lend to drillers.

The former Treasury official and University of Michigan administrator’s confirmation gives the Federal Reserve Board a full complement of seven governors for the first time in nearly a decade.

Led by Rep. French Hill, the group of conservative lawmakers said the agency must do more to ensure appropriate transparency regarding any new products or activities that the enterprises undertake.

Plaid co-founder William Hockey and his wife, Annie, have created a way to let clients co-develop programmable bank accounts.

As Celsius Network’s customer withdrawal freeze enters a full month, the beleaguered crypto lender has paid back a string of debts totaling more than $900 million during the same period to decentralized-finance platforms. 

Credit unions generally struggle to make agricultural loans because the market is saturated by more experienced lenders. But they can develop the expertise — or acquire it through M&A.

Searching Google for information about student loan forgiveness surfaces advertisements that either appear to violate content policies or lead people to scams, according to a watchdog group, increasing public confusion as the Biden administration mulls actions on student debt.

In global news this week, buy now/pay later companies Zip and Sezzle call off their merger, BBVA sets a higher target for women in management, ABN Amro debuts a digital wallet for gig workers, and more.

The mobile-focused challenger bank is adding payments hardware, expanding its services for consumers and businesses.

Just as advances in automobile technology have made driving safer, incorporating AI into decision-making reduces financial risks.

Challenger banks such as Quontic Bank and Current are just some of the early adopters in the evolving space.

The Federal Reserve has aggressively ratcheted up interest rates to tame inflation. But that swift turnaround after more than a decade of accommodative monetary policy could create new risks to the financial system.

The challenger bank for small-business owners is making it easier for its customers to give their accountants access to their transactions and statements.

The fintech IntraFi announced that Diane Ellis, formerly director of the division of insurance and research at the FDIC, will help lead the firm’s “new initiatives under development.” 

Almost 100% of small-bank executives who responded to a recent IntraFi survey say they expect the U.S. economy to fall into a recession by next year. The top reason why: an overcorrection by the Federal Reserve as the central bank tries to tame inflation.