Despite facing backlash last year after erroneously closing some customer accounts, the fintech continues to generate buzz.

The Federal Reserve Board's new guidance comes as the central bank is slated to decide whether to grant Custodia, a Cheyenne, Wyo.-based crypto firm, a master account.

Mastercard is facing pushback from retailers over a new product that allows customers to pay off their purchases in installments. 

Digit engaged in deceptive acts or practices by routinely causing checking accounts to overdraft, the Consumer Financial Protection Bureau said.

Direct connectivity between the cross-border payment company and the data aggregator will let Wise's 13 million customers use the 6,000 fintech apps in Plaid's network without the need for a bank account.

Websites such as Credit Karma and LendingTree, which work closely with financial institutions, have had to rethink their strategies to bounce back from the pandemic.

Funding constraints are a "business problem that we need to address," CEO Dave Girouard said. The online consumer lender has seen a significant drop in demand for its loans from banks and investors.

Goldman Sachs Group has extended a $150 million credit line to the Mexican startup Clara, which lends to corporations and helps manage their spending, the latest Latin American fintech to receive support from the New York-based banking giant.

Two laws signed Friday by President Biden extend the statute of limitations for fraud cases involving pandemic-relief programs. One of them would have a particular impact on Paycheck Protection Program loans made by nonbanks.

Consumers should be aware that the FDIC does not protect their money if a fintech goes belly up.

Revolut Ltd. plans to increase its crypto headcount by 20% across Europe, the U.K. and U.S. over the next six months, a bright spot in the current digital-assets industry downturn and a rare sign of growth against the backdrop of a wider slowdown in hiring by tech firms.

The San Francisco fintech collected $1.6 billion in deposits during the second quarter after buying a small bank earlier this year. Though SoFi pays relatively high rates to its depositors, CEO Anthony Noto said the company's funding costs are far lower than they were before the bank acquisition.

In global news this week, regulators in EU worry about staffing, American Express expands B2B cross-border payments, ATMs in New Zealand get an upgrade, and more.

Union Savings Bank's new technology is helping the bank compete with larger competitors and attract younger customers, its leaders say.

The Maryland bank has lost 13% of its credit card customer base in the past year amid a flurry of marketing activity by newer players. But it is refusing to panic.

The San Francisco company is relying more on banks and credit unions, and its own acquisition of a bank last year, to fund its consumer lending business. The flexibility has proved helpful as demand from other loan buyers wanes.

"Voluntary changes are not enough to assure that our lowest-income consumers will be protected in the long run," writes the Democratic House member from New York City.

Climate change, gun control and the overturning of Roe v. Wade are just some of the latest issues banks are addressing.

The financial technology startup Zepz has named Bill.com Chief Operating Officer Mark Lenhard as its next chief executive, people familiar with the matter said.