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The buy now/pay later lender is seeking to create Affirm Bank, a Nevada-chartered industrial loan company.
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The Federal Deposit Insurance Corp.'s approval of industrial loan company charter applications for General Motors and Ford Motor Company generated only moderate pushback from banks as crypto, debanking and credit card rate caps dominate the industry's attention.
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Many servicing metrics look weaker amid lower rates although valuations can vary depending on companies' models, operations and portfolio composition.
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The Brazilian digital bank Banco Inter now has a license from the Federal Reserve Board and the state of Florida to establish a virtual "branch" in Miami.
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Shares of the California lender surged 25% on news of the leadership change and preliminary fourth-quarter earnings.
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The McLean, Virginia-based bank plans to close the deal in mid-2026, about a year after it sealed its landmark purchase of Discover Financial Services.


















