Organization Root Tag

Stellar, which started as a splinter group from Ripple, has formed a for-profit company called Lightyear.io to help financial institutions integrate its software.

Democrats on the Senate Banking Committee are raising concerns that a move by Treasury Secretary Steven Mnuchin to appoint Keith Noreika as acting comptroller was done to circumvent Senate vetting.

The announcement is the latest in a series of steps states are taking to make their licensing system more attractive to fintech companies.

There are barriers to possible efforts by acting Comptroller of the Currency Keith Noreika to act unilaterally to change the Volcker Rule.

FHFA Director Mel Watt warned Thursday that to prevent a potential draw on the Treasury Department by the government-sponsored enterprises, he is willing to act unilaterally to rebuild capital at Fannie and Freddie.

Without powers granted by the Dodd-Frank Act to unwind failing financial firms, a central and known problem that contributed to our last financial crisis would become a core problem of our next one.

Wells said slowing loan growth had hurt its aggressive efforts to lower its efficiency ratio, so it is doubling the expenses it aims to cut by 2019.

The good news: SBA lending is going gangbusters and business owners are optimistic about growth prospects and their ability to access credit. The not-so-good news: Many firms are still not particularly interested in borrowing and startups are not the engines of job creation they once were.

Fintech has upended parts of the banking industry and made old ways of doing business obsolete. But that's also what makes it an exciting time to be a banker, says Citizens Bank CEO Bruce Van Saun.

The roughly $2 million investment comes as banks keep joining (and in some cases, leaving) various distributed ledger projects as they try to pick the winners in a young field.

With their big-picture view across multiple portfolios, some CUSOs are reporting an increased appetite for business loans and participations.

Payments stayed the same for years, then started evolving rapidly. That has issuers considering different ways to help consumers manage the change.

One of the potential benefits is peer-to-peer connectivity, which could spark P-to-P and other types of digital transfers.

The U.S. Chamber of Commerce and Union Bank urged the Consumer Financial Protection Bureau on Wednesday to narrow its approach to collecting data on small-business lending, fearing it could add costs and compliance burdens.

The London-based bank overbilled customers by nearly $50 million through violations including collecting excess mutual fund fees.

Banks have warmed up to digital wealth management tools but will need to use their human advisers, too, to beat fintechs.

Through the bank’s new API, small-business customers can feed their bank data into Xero’s cloud accounting technology.

Regions Financial is taking steps across its 1,500-branch network to embrace consumers with autism and train its staff to help them. Business development, not just compassion, is part of the motivation.

The Conference of State Bank Supervisors announced a raft of initiatives on Wednesday designed to make the state licensing system more attractive to fintech companies.

The 2015 written agreement had required Four Oaks to improve corporate governance.