Banking Committee Chair Sherrod Brown told acting Comptroller of the Currency Michael Hsu that the cryptocurrency firms approved to operate national trusts under prior agency leadership “seek access to the benefits of a bank charter” without meeting certain regulatory standards.

How digital capabilities are supporting small business operations amid disruption

Peeyush Nahar, who also spent 14 years at Amazon, brings both Big Tech and startup experience to a consumer-banking unit that has lost several senior leaders in recent months and faces challenges common to entrepreneurial divisions within large organizations.

The agency issued a request for information to gather feedback about how institutions facilitate use of cryptocurrencies and other kinds of assets, and what factors regulators should weigh as they develop supervisory policies.

By becoming a bank, the digital-only challenger zigged when other fintechs zagged. Some of the short-term consequences of that decision — including heavy regulatory costs — are becoming clearer, but CEO Colin Walsh says the company is sticking with its long-term growth strategy.

The company, once known as Southern National Bancorp of Virginia, plans to launch the as-yet-unnamed platform by the end of this year.

The regional bank has renovated an office tower in downtown Buffalo, N.Y., to house 1,000 technology professionals it's hiring, retrain workers, collaborate with fintechs and overhaul everything from mortgage lending to fighting debit card fraud.

Large banks like Chase, PNC and U.S. Bank were seen as having more resources to devote to customer relief and upgrade digital channels that consumers came to rely on, according to a J.D. Power survey.

Ken Meyer, who will speak at American Banker's Digital Banking AI & Automation conference next week, says banks should be able to quickly catch up with big technology companies and financial services upstarts in the adoption of artificial intelligence without alienating customers or running afoul of regulators.

The Ohio regional took advantage of an unexpected boost in interest income in the first quarter to upgrade its digital platform and recruit bankers in wealth management, capital markets and Small Business Administration lending.

The company plans to shutter five locations, or roughly 12% of its network, next month.

The agency first sought feedback in February 2020 on how it could update its logo, but the process was suspended two months later amid the COVID-19 pandemic.

The Silicon Valley payments giant collaborates with incumbent banks. But its plan to launch a single mobile app where consumers will shop, make payments and manage their money is reinforcing long-held industry fears about the threat from Big Tech.

The Mexican unit of the fintech Nubank, the world’s biggest standalone digital bank, is getting a $135 million injection to propel its nascent operations in Latin America’s second-largest economy.

JAM FINTOP Banktech will fund startups that offer services designed for the banking industry. All 66 limited partners are banks.

While branchless banks are taking market share from brick-and-mortar rivals, they aren’t necessarily wowing consumers with service, according to a recent J.D. Power survey. The findings suggest that direct banks can do a better job communicating with their customers, particularly in times of crisis.

A comprehensive strategy around when and how consumers pay bills online can better help credit unions understand members' behavior patterns and deepen those relationships.

Thousands of customers have called OceanFirst Bank with a new set of technical questions: How do you download an app? Make a mobile deposit? Load a debit card into Apple Pay? CEO Chris Maher explains how the New Jersey company is handling the shift to digital banking.

Bradley Riss is chief commercial officer at Checkout.com, a firm that acts as a payment gateway, acquirer and processor through a single channel, covering cards, passthrough wallets, stored value wallets and alternative payment options such as point of sale credit. It charges a fee based on processing and card payment costs rather than the percentage+ model that most payment API companies charge. The model is designed to make the service customized to different merchants and serve as a base to offer other merchant products.

Six years after unloading its bank unit, the tax preparation chain wants to diversify by launching a digital account targeting low- and moderate-income households. How will it differentiate itself from upstarts like Chime, Varo and Green Dot?