Capital markets

Betsy Cohen, formerly of The Bancorp Bank, and venture capitalist Ryan Gilbert have created a vehicle to raise hundreds of millions of dollars, purchase a technology company and expand it.

Record profits from trading and other capital markets activities helped to offset steep revenue declines in personal and business banking.

Socure, which applies machine learning to spot identity fraud, has raised $35 million in a new funding round from venture capital funds and banks.

Dutchie, an online cannabis delivery service for dispensaries, has raised $35 million by attracting rapper Snoop Dogg, basketball star Kevin Durant and former Starbucks CEO Howard Schultz as investors.

Vanessa Colella, innovation chief at Citi, says remote working has had a democratizing effect. She also touches on the types of technology Citi has been incubating, the startups it’s investing in and her efforts at fostering a culture of generosity.

Jo Jagadish, who joined TD Bank in April as head of commercial products and payments innovation, spent her childhood moving from country to country, so she's used to a world without borders — the kind of world emerging from the capabilities of fintech and demands of the pandemic.

The company said it will use the new funding to accelerate its growth.

PayPal is improving its ability to reach innovators, adding a key executive in its recent hire of former Wells Fargo senior vice president and fintech veteran Peggy Mangot to be operating partner at PayPal Ventures, PayPal’s VC team.

Fintechs are facing unique challenges in the pandemic. There might be a resurgence in funding on the horizon, but startups are looking to see what they can do now to weather the storm.

Acting Comptroller of the Currency Brian Brooks said the agency plans to issue new assessment procedures within weeks as a follow-up to recent Community Reinvestment Act reforms. He also touched on the “true lender” issue and why the agency is considering a narrow-purpose payments charter.

Remitly has raised $85 million in its latest fundraising round, valuing the company at $1.5 billion as the COVID-19 pandemic drives consumers to increasingly send remittances digitally.

The Financial Stability Oversight Council’s plan to study the market explains very little about which activities or firms, like Fannie Mae and Freddie Mac, will be designated as systemically important. Here's some clearer guidance.

Business models and adaptability will determine the success — or failure — of financial technology companies as they deal with fallout from the coronavirus outbreak.

A top Federal Reserve official is issuing a warning about fast-growing and largely unregulated shadow lenders: They were a big factor in why central banks had to save markets earlier this year, and much more needs to be done to assess the risks posed by the sector.

The council created by the Dodd-Frank Act to identify systemic risks launched a review of the market as part of an activities-based approach that shifts focus away from targeting individual firms.

Fueling its market expansion, U.K. earned wage access startup Wagestream has raised £20 million (about $25 million) in a Series B fundraiser from several VC firms.

The Main Street Lending Program is off to a slow start, while the PPP is extended five weeks to distribute the remaining $130 billion in loans; the European regulator is softening its stance to allow more deals.

VCs and lenders rely on business data such as transaction records to inform funding decisions for fintechs or small businesses, but bias and uneven representation in management still result in gender and racial disparity.

Checkout.com’s $150 million funding round triples the e-commerce company’s valuation to $5.5 billion, and it follows an even larger $600 million bet on Stripe this spring.

APEXX Global has completed a Series A fundraiser, bringing in $8 million from existing and new U.K. and Scandinavian investors to expand its payments platform.