Deposits

Current regulations barring out-of-state banks from siphoning deposits from local communities are effectively toothless, as the experience in Miami has shown.

Year to date Jun. 30, 2021. Dollars in thousands.

Goldman Sachs Group, in an effort to win more deposits and build out its transaction banking segment, is offering companies slightly higher interest on their accounts if they meet environmental or other socially responsible goals.

On Jun. 30, 2021. Dollars in thousands.

Robinhood Markets is working on a new feature that lets users receive their paychecks via direct deposit up to two days early, stepping up competition with companies like PayPal Holdings and Wealthfront.

Google has tied up with an Indian small lender to offer time deposits to users of its payments wallet, extending its presence in the nation’s lucrative digital banking space.

Year to date Mar. 31, 2021. Dollars in thousands.

The influx that began around the start of the pandemic has yet to subside, as loan demand remains weak even though consumers are again spending money. Some of the excess liquidity now seems likely to remain for a long time, forcing banks to make tough calls about how and when to deploy it.

The San Francisco company says it will "modify and strengthen" its filings with the Federal Deposit Insurance Corp. and Utah officials and "resubmit at a later date." It's the latest fintech to encounter such a setback, though some later secured approval.

The Rhode Island bank joins a small group of financial institutions offering corporate clients the chance to park their cash reserves in environmentally friendly projects.