Finance

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.

Highland Associates has $26 billion in assets under management on behalf of not-for-profit medical endowments and foundations. Regions Financial is following the lead of other regionals, which have been scooping up investment firms that specialize in health care.

Brazil is the latest Latin American country to establish plans for a low-cost instant payments network with the aim of increasing financial inclusion and eliminating cash from the economy.

Readers weigh potential risks in the leveraged loans market, debate Herb Sandler's legacy, consider the role the Fed should play in real-time payments and more.

Loans grew amid a surge in deposits, while membership surpassed 117 million and industry consolidation continued.

Credit unions collect more in fee income than their banking counterparts. That could become problematic as the political winds and consumer preferences shift.

Many community banks have given up on national mortgage platforms as not worth the effort, but organizers of NXG Bank in Maryland say they have a plan to make one work.

Regional and small banks are striking digital partnerships and launching new savings offerings as they attempt to steal away business from bigger institutions.

The online lending marketplace will use the equity financing from WestBridge Capital to diversify the digital products its offers banks trying to compete for small-business borrowers, its CEO says.