Finance

Banks can capitalize on Amazon’s ambitions by teaming up to launch financial products and services aimed at coveted customer segments. But they should beware the legal and regulatory pitfalls.

Executives and boards are bracing for elevated loan losses and stagnant revenue, which will mean more conversations about belt tightening as opposed to added investment.

A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month.

Billionaire Jack Ma’s Ant Group generated about 9.2 billion yuan ($1.3 billion) of profit in the March quarter, offering investors a glimpse of its earnings power in the run up to its mega initial public offering.

Banks and other lenders have found a way to potentially make billions of dollars from the coronavirus-fueled upheaval in the U.S. mortgage market — yet it risks burning bond investors in the process.

Observers say the rare denial is rooted in skepticism that a new bank can succeed under current economic conditions and a signal to other proposed banks to hit the pause button.

Dutchie, an online cannabis delivery service for dispensaries, has raised $35 million by attracting rapper Snoop Dogg, basketball star Kevin Durant and former Starbucks CEO Howard Schultz as investors.

Credit unions added more than $176 billion to savings balances in the first half of the year, according to new analysis from Callahan & Associates.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

Vanessa Colella, innovation chief at Citi, says remote working has had a democratizing effect. She also touches on the types of technology Citi has been incubating, the startups it’s investing in and her efforts at fostering a culture of generosity.