Subject Root Tag

Daily edition for March 31, 2022

The Consumer Financial Protection Bureau heard from proponents and critics of buy now/pay later lending amid its probe of five of the most prominent companies in the space.

Esther George, president of the Federal Reserve Bank of Kansas City, says changes in the office sector and monetary policy pose potential risks to property owners and their lenders.

Apple is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter.

The pilot program, which Small Business Administration head Isabella Casillas Guzman called a key tool for prioritizing more equitable access to capital, is getting a two-year extension along with a boost to its maximum loan size.

Thomas Kevin Miller will succeed Barry Nelson, who is retiring in mid-April.

The Federal Deposit Insurance Corp. is the second U.S. regulator to outline strategic planning and other steps banks with more than $100 billion of assets can take to minimize damage from severe weather events and the transition to a low-carbon economy.

BCC Group, BCware and Synadia will jointly develop Web3Link, which the companies say will help banks deploy smart contracts that work with their existing technology and decentralized finance environments.

In global news this week, Apple blocks Russia's Mir network; N26 gets hit with anti-money-laundering penalties in Italy; Santander brings new B2B payments tech to Brazil; and more.

In conversation with Patti Cook, CEO of Finance of America Companies

The proposed combination of Vermont State Employees Credit Union and New England Federal Credit Union would create a $3 billion-asset institution. Some past leaders worry that the deal will erase one institution's local touch.

Moves by bank lobbyists to try to restrict credit union-bank mergers could wind up depriving many consumers of needed financial services.

Citigroup agreed to sell its India retail banking business for about 123 billion rupees ($1.6 billion) cash to Axis Bank, as the U.S. lender seeks to consolidate its operations in identified markets.

Daily edition for March 30, 2022

These tech titans still depend on banks to back their payment cards and loans. But their vast audiences mean any financial product they offer is a competitive threat.

The $168 million deal would mark the third acquisition of 2022 for Seacoast and continue a years-long effort to bulk up via M&A.

Climate activists have forced votes this spring on whether big banks should move more aggressively to cut off their financing of fossil-fuel companies.

The company had accepted a $60 million naming rights deal from Meta Platforms — the social media giant's new brand.

Corrie Rozell, who has been interim chief executive since January, will adopt the role permanently.

Sen. Pat Toomey, R-Pa., is accusing the Consumer Financial Protection Bureau of pressuring Equifax, Experian and Transunion into removing most medical debt from credit reports, a move he says would compromise lenders' ability to gauge risk. Democrats, experts who testified at a hearing Tuesday and the CFPB pushed back.