Technology

The Los Angeles fintech lender has agreed to refund voluntary payments paid by borrowers in California, Connecticut and the District of Columbia. Voluntary payments for loans have come under scrutiny from consumer advocates and state officials.

During a Tuesday hearing, lawmakers talked through how to properly regulate the wide-ranging uses of AI. Some voiced support for forming a new AI agency.

The bank is focusing on pre-seed companies that specialize in fintech or other forms of technology and have diverse founders.

The New York bank is hoping for 30% to 40% productivity improvements from the use of AI in areas like software development and knowledge extraction.

One of the oldest U.S. banks sees innovation as part of risk management, not a discretionary cost.

The FDIC reviewed more than 20 other offers before selling the failed bank, including one from a San Francisco fintech.

The challenger bank offers the largest advances on the market, but it is still working to become net cash positive and faces stiff competition.

First Horizon commits part of TD breakup fee to local communities, Southern Security poised for huge membership growth, Marqeta faces layoffs and more in this week's banking news roundup.

Michigan State University Federal Credit Union is partnering with Debbie, a Miami-based fintech that helps consumers break free of delinquency and correct bad spending habits, to strengthen its financial education tools and build its deposit base.

The director of the Consumer Financial Protection Bureau told a fintech audience Thursday that banks need to make it easier for consumers to switch accounts, and should make lending decisions with less reliance on credit scores.