The $23 million deal, announced more than a year ago, was terminated following regulatory delays.

The National Credit Union Administration will soon name a director for its Office of Financial Technology and Access, which Hood — a board member and former chairman of the agency — created. He explains in an interview why the office's work is a priority.

Banco Bradesco, Brazil's second-biggest bank by market value, plans to buy more minority stakes in tech companies to accelerate its expansion in the United States.

Investors are learning the hard way, again, that highflying new financial products, with little or no regulatory oversight, tend to crash.

The former chief innovation officer at Quontic Bank and American Banker's 2020 Digital Banker of the Year is offering seminars, a bank-fintech matchmaking platform and a fintech investment fund.

The Small Business Administration must be prepared to effectively oversee any new lenders it allows in its flagship 7(a) loan guarantee program to guard against fraud and other risks, Democrats and Republicans on the Senate Small Business Committee warned.

Mitsubishi UFJ Financial Group is in talks to invest about $200 million in Akulaku, an Indonesian online lender backed by Jack Ma's Ant Group, according to people familiar with the matter.

The deal is the banking titan's latest investment in fintech.

Regulators are chastising banks for compliance lapses among their fintech partners. But some say the software companies that connect them share some responsibility.

A special-purpose acquisition company is merging with a bank as its affiliated startup still lacks its own national bank charter.

In a tight job market, banks are exploring new ways to find the employees they need.

Markus Braun makes his first public appearance in court on Thursday, more than two years after his highflying digital-payment company Wirecard collapsed under the weight of fraud allegations.

Houston-based Save, which lets consumers save and invest from the same account, closed on its most recent round of funding last month, led by BNP Paribas and joined by Webster Bank.

Plaid said it cut 260 staffers Wednesday after changing macroeconomic conditions forced it to rein in costs.

The portfolio purchase, which follows the sale of MUFG Union Bank to U.S. Bancorp, represents about 32% of LendingClub's own personal loan portfolio. It should help boost the online lender's growth while using some of its excess capital.

The many advantages banks can obtain from working with financial technology companies are undeniable. But so are the dangers.

Financial technology companies that distributed Paycheck Protection Program loans often employed lax oversight that allowed fraudsters or ineligible individuals to receive relief funded by taxpayers, a congressional report found.

Federal Reserve Gov. Michelle Bowman said regulations on banks have spurred the growth of unsupervised non-bank financial institutions like fintechs and private equity firms.