Corporate finance

Wise grew its net revenue 19% year over year to $2.5 billion in its fiscal 2026, aided by increased deposits, cross-border volume and spending on the Wise card. It's the latest sign that interest in cross-border payments and multicurrency accounts is heating up.

The $44 billion fintech also appointed a new CTO and head of engineering as it foregrounds artificial intelligence in strategic decision-making.

Chair Travis Hill said the Silicon Valley Bank failure showed banks can't always sell securities fast enough to cover deposit outflows, but acknowledged the "stigma problem" with discount window borrowing remains unsolved.

Rithm and UWM Holdings are the favorite names among publicly traded lenders, while BTIG adds coverage of Better Home & Finance at a buy rating.

Balance sheet reduction is a top priority of new Fed Chair Kevin Warsh. Achieving that goal means avoiding the kinds of disruptions that roiled the Treasury bond market in 2019, the last time the central bank embarked on quantitative tightening.

The corporate finance fintech now has a $44 billion valuation and is building out an AI token spend management offering for its 7,000-plus enterprise customers.

Globally, the war had varying impacts on banks' first-quarter provisions, according to a new report. U.S. banks reported limited reserve-building in response to the conflict.

Verizon's 2026 Data Breach Investigations Report finds attackers now break in most often through unpatched software and third-party vendors, not stolen passwords.

Securities and Exchange Commission Chair Paul Atkins said his agency and the Commodity Futures Trading Commission are working together to usher in a friendlier regulatory environment for technology and crypto firms, a marked departure from the interagency dynamic under President Biden.

Though compliance spending remains an issue, the Toronto-based company reported linked-quarter loan growth in the U.S. and expects the trend to accelerate.

Canada's largest bank beat Wall Street's expectations in the second quarter. But some analysts were puzzled by RBC's decision to shrink its provisions for credit losses at the same time as its executives were acknowledging "elevated" macroeconomic uncertainty.

The Canadian lender's U.S. plan involved selling branches and jettisoning certain noncore relationship loan portfolios. BMO is now positioned to achieve its stateside return on equity target, CEO Darryl White said.

The Federal Deposit Insurance Corp. said banks earned stronger profits and expanded lending in the first quarter of 2026, but at the same time margins shrank and unrealized losses have been increasing.

The neobank put its multi-use card in the hands of even more consumers in the first quarter, reaching 5 million users. That has resulted in increased membership fees and average revenue per consumer compared with non-card-wielding customers.

Parker Group unexpectedly ceased operating last week, then filed for Chapter 7 bankruptcy a few days later as sponsor banks and customers were left scrambling.

Affirm CEO Max Levchin said that the company did not have any plans for AI-spurred layoffs despite the fact that it was using the technology more for software engineering.

The payments company posted strong adjusted earnings following a dramatic downsizing, which management attributed to the influence of artificial intelligence.

Federal Reserve Gov. Lisa Cook said Friday that she believes tokenization could improve efficiency across the financial system, including faster settlement times and more effective recordkeeping. But those advantages will take place within traditional finance rather than supplanting it, she said.

Life insurers' borrowings from the Federal Home Loan banks has increased in recent years, raising concerns about opaque, private credit investments and how it intersects with the Federal Home Loan banks' housing mission.

The neobank reported a 25% year-over-year increase in revenue for the quarter ended March 31, with active users jumping 19% to 10.2 million. The company also raised its full-year 2026 guidance and authorized a $200 million share repurchase program.