Finance

The Dutch company is no longer a bank in some countries, but more of a digital matchmaker between consumers and financial products provided by third parties, explains innovation chief Benoit LeGrand.

The new regulation mandated by Congress expands eligibility for a simplified reporting form to financial institutions with $5 billion of assets.

Student CU Connect CUSO, which had made high-risk loans to students of the now-bankrupt ITT Technical Institute, agreed to a settlement resulting in an estimated $168 million of loan forgiveness.

Median annual membership growth stood at just 2% at the end of the first quarter, though delinquencies dropped and ROA got a boost.

Brittany Baker is taking over for Barbara Vitolo, who is retiring after more than two decades at the Pennsylvania-based credit union.

Financing and payment technology provider Sunbit has received $26 million in a Series B funding round through Zeev Ventures and participants Group 11 and Chicago Ventures.

India’s government has taken drastic steps to encourage and standardize digital transactions, and those moves appear to be paying off.

Speaking during an event on Wednesday, Hood touched upon charter expansions, regulatory relief and the industry's tax-exempt status.

The Los Angeles company has established a network that is designed to help verify the identities of consumer and small-business borrowers. It says 20 lenders are participating and that it is trying to recruit more.

Ken Lehman will gain a 40% stake in the Tennessee bank as part of a broader plan to raise $13 million.

Director Mark Calabria urged lawmakers to grant the agency chartering authority similar to that of bank regulators to boost competition in the mortgage market.

Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results.

The Australian API payments and rewards platform provider Verrency has closed on a $7 million (AU$10 million) Series A funding round, bringing the total funds raised to-date to $14 million (AU$20 million).

Payments software provider SpotOn Transact LLC has received $40 million in new funding from Franklin Templeton and participant Dragoneer Investment Group.

Digital payments are creating a wealth of data that can be used to inform other types of financial services for managing debt or promoting financial inclusion — and these services are, in turn, attracting the interest of venture capitalists.

Alkami Technology said it would use its latest round of funding to expand its white-label services for small banks and credit unions.

Founders Bank is the latest de novo effort that will target the nation's capital.

The Tampa-based institution says it is poised for growth, but the new asset class also opens it up to additional scrutiny from the CFPB.

A trio of big deals in the payments and financial tech area and continued bank and venture capital interest in fintech investments are creating expectations for a banner year.

The group behind Bank of St. George is looking to bring in up to $22 million in initial capital.