Biggest changes in digital banking are just ahead
Businessman using tablet analyzing data.
Many might think that the technological disruption of the industry is already underway, but it's likely that the most significant restructuring is still yet to come.

(Full story here.)
Google and PayPal explored OCC's fintech charter, then walked away
Logos for Google and PayPal
Dozens of companies, including Google and PayPal, met with OCC officials last year in part to discuss obtaining a new fintech charter, but many ultimately decided not to pursue it, according to sources. Here's why.

(Full story here.)
New LendingClub feature lets customers pay off card debt directly
LendingClub president Steve Allocca
Rather than receiving a lump-sum payment from the online lender, borrowers can now choose to have the proceeds of a debt consolidation loan sent to the companies they owe.

(Full story here.)
Goldman Sachs, Stripe execs spar on future of financial services
Marty Chavez
Both companies want money to be "programmable." But how to go about it is a matter of dispute.

(Full story here.)
BB&T, SunTrust set dates for shareholder votes on merger, 'Truist' name
Signage for BB&T and SunTrust banks.
Shareholders of both companies will meet separately next month to cast ballots on the $28 billion deal, and BB&T investors will also decide whether the new company should be called Truist Financial.

(Full story here.)
Facebook thinks it can displace banks. Good luck with that.
facebook
Many people still distrust banks, but many also look askance at the social media giant, making it an unlikely savior of the unbanked.

(Full story here.)
Fully automated compliance is big hurdle for this fintech's APIs
AB - Synapse.jpeg
Synapse is working to refine its application programming interfaces to meet know-your-customer and other complex requirements, but it's a tall order, the head of the back-office-services platform says.

(Full story here.)
'The risk isn't in the banks': Fed's Powell on leveraged lending
Jerome Powell, chairman of the Federal Reserve, pauses while speaking during a news conference following a Federal Open Market Committee meeting in Washington on June 19, 2019.
Federal Reserve Chairman Jerome Powell says the agency is closely monitoring leveraged lending risks, but suggests further regulations on banks aren't warranted.

(Full story here.)
'Truist' rebrand prompts lawsuit by N.C. credit union
Truliant Federal Credit Union branch.
Truliant Federal Credit Union claims that the BB&T-SunTrust post-merger brand represents trademark infringement and unfair competition.

(Full story here.)
Maxine Waters calls for halt to Facebook's cryptocurrency plans
House Financial Services Committee Chairwoman Maxine Waters
House Financial Services Committee Chairwoman Maxine Waters and Rep. Patrick McHenry, the top GOP panel member, said Facebook must testify about Project Libra.

(Full story here.)