-
General Motors' financial arm has halted its quest for an industrial loan company charter from the FDIC, but is signaling that it will try again. Observers said the automaker may wait until after the presidential election to decide how to move forward.
June 25
-
Funding Circle US fought to win a coveted license to make SBA 7(a) loans only to see its London-based parent company agree to a sale before it could make its first government-guaranteed loan
June 25
-
A federal judge in Brooklyn formally rejected a $30 billion settlement between Visa, Mastercard and retailers to cap credit-card swipe fees after telegraphing earlier this month that such a setback in the two-decade long litigation could be expected.
June 25
-
The Consumer Financial Protection Bureau extended the deadline for lenders with the highest volume of small-business loans to July 18, 2025, and will not assess penalties for reporting errors for a year.
June 25
-
Ransomware group LockBit threatened on Sunday to publish the stolen data Tuesday evening. Ransomware experts said it was likely that the group was bluffing.
June 25
-
The bankruptcy of fintech middleware provider Synapse has left thousands of customers unable to access their savings, with seemingly no one empowered to put it back in their hands. Regulators and lawmakers need to do something about it, but first they need to talk about it.
June 25
American Banker -
The Federal Reserve Board of Governors issued a cease and desist order against Indiana-based United Fidelity Bank over concerns that the bank was deficient in its board oversight policies.
June 25
-
The head of data and digital at Ally Bank came up with protective measures governing the use of generative AI and organized "AI Days" for employees to learn about Ally's progress.
June 25
-
Investors are keeping a close eye on recent banking news, including Mastercard's latest plan for crypto, Comerica's proposed settlement of a class action, employment gains and skeptical shareholders.
June 25
-
The two financial institutions are testing a combination of machine learning and blockchain to catch errors and block fraud on international transactions.
June 25
