CHIME

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

The fintech reached an agreement with California regulators to disclose clearly that it’s not a bank and that its services are provided through bank partnerships.

Customers in the challenger bank's pilot program drew down an average of $200 each in advance of the government's $1,200 payments.

Leaders like Chris Britt at Chime, Brett King at Moven and Jill Castilla at Citizens Bank of Edmond are getting inventive as they try to help those hurt economically by the pandemic.

The challenger bank might use the proceeds from its latest funding round to buy other fintechs that would allow it to add more products and services, its CEO said.

Consumer trust issues have long been a stumbling block for challenger banks, but many say Google will face bigger obstacles.

Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees.

Outages last week at Chime and Varo Money have executives on the defensive.

The payments processor Galileo suffered what it described as an "operational incident" that caused more than 24 hours of outages at the fintechs Chime and Varo Money.

Surety's first online bank, booyah, is aimed at college students and young grads.