Retail & Commercial

The fintech, which powers debt collections for banks and credit unions, received a "strategic investment" from Vista Equity Partners to expand into agentic AI.

The Toronto-based bank named Rahul Nalgirkar as incoming finance chief. Nalgirkar, who joined BMO in 2022 from Fifth Third, will succeed the retiring Tayfun Tuzun, who came to BMO in 2020 after working at Fifth Third.

Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.

Creditors of the subprime auto lender Tricolor, which filed to liquidate in bankruptcy this month, are staking their claims on the company's remaining assets.

Prosecutors say Daryl Heller lured 2,700 investors with promises of safe ATM profits but misappropriated $185 million.

The global fintech has said it will invest more than $500 million in the US in the coming years, and it expects to create hundreds of jobs.

The Denver-based bank-holding company's pending acquisition of Vista Bancshares in Dallas is an opportunity to expand into key fast-growing Texas markets and deepen its talent bench, CEO Tim Laney told analysts.

The bank's senior leadership is seeking a solution to perhaps its biggest challenge in over a decade: A $26 billion increase in capital requirements leveled by its home government, Switzerland. 

The perennial effort by state-level lawmakers and regulators to impose their will on national banks risks damaging a well-balanced system that has allowed the U.S. economy to thrive.

Execs say other banks are still more of a rival for deposits than the digital currency.