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The banks want the pay-by-bank provider to use application programming interfaces to protect consumers, they say.

Federal Reserve Vice Chair Philip Jefferson said that as interest rates have moved toward a more neutral level, "it makes sense" now to proceed with caution.

Existing law already provides the tools that would allow an across-the-board upgrade in digital identity verification, with benefits to banks and consumers alike. Regulators are the roadblock.

The volume of home equity lines of credit expanded for the 14th consecutive quarter, driven largely by fintechs and other nonbanks that are accounting for more and more of the business.

The payment and commerce company's stock fell as much as 12% in afterhours trading on Thursday after the fintech missed Wall Street's earnings estimates, despite posting growth in all lines of business and increasing its full year guidance.

Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.

The digital neobank is expecting spending to stay strong through current economic conditions, and a new credit card is projected to bring in increased revenue.

Analysts say the fintech must "grow like a fintech, but be profitable like a bank" as its capital base shrinks to its lowest level to date.

Comptroller of the Currency Jonathan Gould said Thursday that a proposal to reimagine bank supervisory practices is meant to empower rather than handcuff supervisors by limiting the scope of their examinations.

A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments. 

Jerry Plush had helmed the South Florida-based bank for nearly five years before agreeing to depart this week. News of the leadership change comes little more than a week after Amerant reported a 43% increase in nonperforming assets.

Michael Barr said he believes artificial intelligence will have a positive long-term impact on the economy, though it may cause job losses in the short term.

Policymakers must avoid looking at community banks as institutions of the past that no longer have a place or function in our financial system and stop prioritizing large banks and technology companies.

Custody is the foundation, but the real opportunity for TradFi lies in what comes next

In late 2021, Vast Bank, a regional bank operating throughout Northeast Oklahoma,