Retail & Commercial

Opposition is building against a bipartisan bill that would raise deposit insurance for business accounts, with increased deposit insurance premiums a chief concern.

The Treasury Department has designated Fifth Third as the financial agent for its Direct Express prepaid card program. The decision marks a reversal from late last year, when BNY reached a five-year agreement with Treasury.

CEO Curtis Farmer tried to assure skeptics Tuesday that the Dallas-based bank is focused on shareholder value and profitability, even as an activist investor group prepares to launch a board fight.

Congress can and should enact meaningful deposit insurance reform, but the current proposal before lawmakers is misguided. The deposit cap is excessive and the funding mechanism creates systemic risk.

The Columbus, Ohio-based regional bank announced plans to acquire Dallas-based Veritex Financial in July. On Monday, a Huntington executive called the deal a "springboard" for additional organic growth.

The megabank will continue its international retail strategy by opening business in Germany next year, starting by offering savings accounts to consumers.

The Consumer Financial Protection Bureau has released a packed agenda centered on rewriting rules ranging from small business lending to open banking while rescinding several rules finalized under the Biden Administration last year.

There is conclusive evidence that stablecoin adoption does not lead to deposit runoff at community banks. This should give bankers the confidence to grow their businesses by offering stablecoin-related services.

Founder and executive chairman Edward Nigro will step back into the top executive spot after Ryan Sullivan informed the company he didn't plan to renew his employment contract.

Fintechs are rolling out business financing tools that are packaged as buy now/pay later and earned wage access in the hopes of capturing momentum from the budding consumer finance industries.