Finance

The skeptics keep waiting for investment in financial startups to dry up, but it doubled in the first half of 2018. KPMG's Safwan Zaheer explains why.

A $52 million-asset African-American-owned bank in South Carolina is hoping its efforts can be expanded to help underbanked consumers nationwide.

With Blankfein retiring, the JPM chief will be the last crisis-era big bank CEO still in charge; earnings and big payouts are boosting bank equity prices.

The OCC has simplified language detailing how fintech charter applicants will clear requirements for meeting community needs. The move has some consumer groups worried.

Tekalign Gedamu, who would chair Marathon International Bank, says that Zekarias Tamrat is bad-mouthing the de novo effort following his dismissal and a subsequent payment disagreement. Tamrat was slated to be the bank's president.

Tory Nixon, who became Umpqua's chief banking officer this spring, is trying to drive more customers to use mobile banking (only 15% do so now industrywide) without alienating them in the process.

While mass transit has long been seen as a potential catalyst for changing payment habits, it's apps such as Uber, Grab and Lyft that are making the biggest difference in how people pay for transportation.

The charge calls into question the speed of the turnaround under CEO Brian Duperreault; the payout will be the Scottish bank’s first since the financial crisis.

Zekarias Tamrat blamed the proposed Marathon International Bank's chairman and directors for delays in getting its application approved.

Fannie Mae’s treatment of a reperforming loan package helped drive up earnings by almost 41% to $4.5 billion, delivering a stronger dividend to Treasury ahead of a leadership change.

A task force created by the American Bankers Association asserts that applying for a bank charter is too time-consuming and that some de novo rules are too rigid.

Square Inc. gave an earnings forecast for the current quarter and year that fell short of analysts’ high expectations, a rare miss for the company and a signal its spending on new products and growth are tempering profit.

The $2.1 billion settlement is likely to be the last of the big toxic mortgage cases from the financial crisis; the move pressures rivals to lower prices.

The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.

Despite continued industry consolidation, the company still expects to have at least 10 chances each year to buy another bank.

Most providers of property assessed clean energy financing shoot for relatively modest credit ratings in the securitization market. But CleanFund wanted to set itself apart.

Freddie Mac produced modest second-quarter results, reflecting a stabilizing business that CEO Donald Layton compared to a utility company.

At least six groups are exploring opening new banks in the state, which is enjoying an economic recovery and has a dearth of local financial institutions.

Some startups are eschewing San Francisco and New York to set up shop in the middle of America. And for good reason.

TransferMate, a cross-border B2B payments service, has received a $25 million investment from ING Group N.V. to accelerate its global expansion.