Technology

The Delaware bank, which is also seeking to move its headquarters to South Dakota, says a national charter will allow it to more easily expand across the country as it builds on its banking-as-a-service business model.

A new group called MoreThanFair aims to establish the lines between fair and unfair lending, to set best practices for the use of AI in lending and to lessen the stigma of fintech lenders.

The Office of the Comptroller of the Currency has stopped requiring the bank to provide quarterly progress reports about its efforts to mitigate cloud computing risks.

Consumers and small business could eventually feel the impact of stepped-up regulatory scrutiny of bank-fintech partnerships.

The Consumer Bankers Association and the Center for Responsible Lending said the Consumer Financial Protection Bureau should renew its efforts to level the regulatory playing field between larger bank and nonbank companies that make installment and other kinds of personal loans.

The neobank combines digital banking with community-based assistance.

SWIFT, the messaging system used by financial institutions globally to convey instructions on tens of millions of transactions each day, is testing out blockchain.

In global news this week, Western Union buys a digital wallet maker in Brazil, DBS in Singapore embarks on a green metaverse project, the U.K.'s Wise launches a digital cross-border payments service, and more.

Regulators are starting to look at bank-fintech partnerships as a source of systemic risk, but the real problem is the lack of consistent prudential rules outside of banking.

Regulators have been sending out warning signals about the partnerships between banks and fintechs. Does this mean banks and fintechs have to change what they're doing?