Technology

Panic withdrawals brought down a bank within two days, and many point to some venture capitalists, who urged companies to pull money out of the bank.

The abrupt downfall of Silicon Valley Bank prompted investors to question whether other banks that hold tech-related deposits could also be at risk. But one analyst said there could be opportunities for banks to add deposits from customers of the failed bank.

A disagreement over growth with its original banking-as-a-service provider prompted challenger bank HMBradley to seek a new and larger sponsor and purchase a new core.

True Digital and TechPassport help banks assess and monitor fintech vendors and partners.

The San Francisco fintech made its name in refinancing student loans. Now it contends that a moratorium for federal student debt payments — put in place near the start of the pandemic — has cost it at least $150 million in profits.

In February's roundup of American Banker's favorite stories: An international African American sorority enters the credit union market; a deep dive into the ideology behind banks giving out free pens; and a rising number of financial institutions are facing a tightening of liquidity and more.

The agency's blueprint calls for giving lenders added underwriting flexibility, as well as upping the number of for-profit nondepository small-business lending companies, which has been capped at 14 since the early 1980s

The economic picture for its customers is good, according to Jason Wilk, who leads the Los Angeles fintech. He sees no need for new products or capital raises in the coming year to break even.

The generative AI technology has been through a cycle of media buzz, disappointment and disillusionment. 

The strategy document identifies potential avenues for cutting cybercriminals off from financing, as well as other actions banks can take.