Fintech

Since Michael Rhodes became its CEO, Ally Financial has gotten bigger by thinking more narrowly. Instead of growing the company's web of businesses, the company has exited some sectors while doubling down on what Ally does best: auto lending.

Silent attrition and low small-business adoption are among the challenges to banks' corporate card business.

The brokerage fintech launched agentic trading and an agentic credit card today that will allow AI agents to trade equities and make credit card purchases on customers' behalf. It comes just weeks after OpenAI rolled out its own personal finance tool.

Lenders pulled back on commercial real estate loans in 2023, as high interest rates put pressure on property values. They're now returning to the sector, and the renewed competition is prompting a pricing war.

Whether red or blue, leaders share an affinity for battling fintech giants, as the liberal mayor is pressuring regulators to scuttle Western Union's plan to buy digital transfer Intermex, shortly following PayPal's 'DEI settlement' with the Trump administration.

New Federal Reserve stats show most consumers carry and store paper money, even as digital payments become mainstream.

Given new government rules on payment processing, giants like Bank of America, Chase and Wells Fargo would benefit immensely from acquiring proprietary debit card networks. Why they haven't done so already is a mystery.

The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.

Parker Group unexpectedly ceased operating last week, then filed for Chapter 7 bankruptcy a few days later as sponsor banks and customers were left scrambling.

Marketing experts say that advisory practices trying to grow organically must be thoughtful about the button that offers website visitors a meeting — or they could lose the prospect altogether.