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A CBDC has the potential to be a real game changer for the payment industry if one condition is met: central bank digital currency has to be built as an open and shared infrastructure for the private sector to easily build on top of it, says ConsenSys' Matthieu Saint Olive.

Daily edition for August 21, 2020.

Executives and boards are bracing for elevated loan losses and stagnant revenue, which will mean more conversations about belt tightening as opposed to added investment.

USAL Bancorp will have nearly $300 million in assets after it buys Escambia County Bank.

The bank has agreed to pay $97 million in customer restitution and a $25 million fine to settle allegations by the Consumer Financial Protection Bureau that it deceptively charged overdraft fees for certain ATM and debit card transactions.

With continued economic instability as a result of the coronavirus, how will the US manage the uncertainty that appears to have no end in sight.

The company will pay $156 million for a bank with a large Small Business Administration lending platform.

Fintech software provider Rapyd and LytePay, a payments provider for self-employed workers, are partnering to launch a digital business wallet and accompanying Mastercard for real estate agents in Singapore.

A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month.

The slowdown in branch traffic brought on by the coronavirus outbreak has accelerated consumers’ adoption of online banking and other tech, meaning banks have no time to waste in digitizing their customer-facing applications, says Bruce Van Saun.

CEO Keith Brenek plans to retire at the end of 2020, and the Texas-based institution found his successor in-house.

The Totowa, N.J.-based institution's board is working on finding a successor for Lourdes Cortez.

Lenders initially won't be able to pass on the cost of the Federal Housing Finance Agency's "adverse market fee" to borrowers whose rates on GSE-backed mortgages and refinances are already locked in.

A federal judge in Florida ruled that lenders are not required to make payments to borrowers' attorneys and accountants unless they struck upfront agreements to do so. The decision has implications for a slew of related lawsuits.

Billionaire Jack Ma’s Ant Group generated about 9.2 billion yuan ($1.3 billion) of profit in the March quarter, offering investors a glimpse of its earnings power in the run up to its mega initial public offering.

Meredith Fuchs, formerly the top lawyer at the Consumer Financial Protection Bureau, says data aggregators like Plaid "have matured." She will help the company prepare for new data-sharing rules and its pending sale to Visa.

Meredith Fuchs, formerly the top lawyer at the Consumer Financial Protection Bureau, says data aggregators like Plaid "have matured." She will help the company prepare for new data-sharing rules and its pending sale to Visa.

The largest bank in the country is reportedly in negotiations to lease space from the U.S. Postal Service. One credit union group called the plan a Wall Street "power grab."

Retailers and banks must cater to local purchasing preferences if they seek to meet the changing needs of their domestic consumers or conduct business across borders, which includes growth opportunities and innovation, says SafetyPay's Gustavo Ruiz Moya.

The higher charge on mortgages refinanced through Fannie Mae and Freddie Mac is supposed to cushion against a crisis but could contribute to one as the fees are passed on to struggling consumers.