Technology

In a new report, the Treasury Department also raises the question of scrapping the $10 billion threshold for debit card issuers in the Durbin amendment.

The fall of a major cryptocurrency exchange and subsequent drop in digital currency prices represent an opportunity to some bankers, who say investors and businesses will turn to regulated companies for crypto help.

A Federal Reserve Bank of New York unit will partner with almost a dozen banks and other financial institutions to test out digital dollars, a sign that Wall Street intends to push ahead with its cryptocurrency agenda despite recent upheaval in the market. 

Onward, an app that recently raised a Series A from investors that include Citi Ventures, helps separated and divorced parents transparently share expenses and pay each other back in one spot.

Klarna has rolled out a search and compare tool in the U.K. and Nordics as the fintech looks to diversify its revenue away from buy now/pay later, which is under increasing scrutiny.

The company is seeing growth in use of its ExtraCash short-term loans, which are an alternative to overdrafts.

During the third quarter, revenues at the online consumer lender fell by 31% from the previous three months. CEO Dave Girouard expressed dissatisfaction but also argued that the company's lending model is working as intended.

FV Bank will let customers hold, transfer and settle both digital assets and fiat currencies in one account.

The fintech reported on its third-quarter earnings call that tightening its credit standards has already improved delinquency trends.

A proposed rule would end a 40-year moratorium on participation in the Small Business Administration's flagship 7(a) program by nondepository lenders. However, staffing constraints would limit the number of new licenses to just three at the start.