Economy

With fintech firms seemingly stuck in neutral in their efforts to gain banking charters, alternative state licensing options could get another look in 2020.

Jason Gardner, founder and CEO of Marqeta, has built three fintech companies and learned along the way what works in building a fintech startup. He also has a stark warning for traditional institutions.

With fintech firms appearing stuck in neutral in their efforts to seek bank charters from federal regulatory agencies, observers say state licensing options could be in vogue again in 2020.

Jason Gardner, founder and CEO of the card issuer Marqeta, discusses his experiences in starting up multiple fintechs and makes predictions for the new year.

Organizers of Bank of St. George still need to raise $18 million before opening.

Morgan Stanley is the latest firm to make a year-end efficiency push, eliminating about 1,500 jobs, according to people familiar with the matter.

A risk-based capital rule for Fannie Mae and Freddie Mac is expected to top the agenda in 2020 as the companies’ regulator executes plans for their release into the private sector.

The prepaid card pioneer's banking-as-a-service platform might make it an attractive acquisition for an enterprise technology giant or bank, analysts say.

The prepaid card pioneer's banking-as-a-service platform might make it an attractive acquisition for an enterprise technology giant or bank, analysts say.

With loan volumes slowing across the industry, some say a focus on loans for renewable energy could be one way for credit unions to pick up some of the slack.

Two of Australia’s biggest banks, National Australia Bank (NAB) and Commonwealth Bank of Australia (CBA), are competing to be the first to commercially launch tap-on-phone contactless payments in the country.

With adjustments to the post-crisis regulatory framework now complete, the Federal Reserve may begin the decade year with a focus on supervisory and examination processes.

The board- and management-level handing of CRE concentration was the chief concern of FDIC examiners, making up more than 56% of all the supervisory recommendations regulators made in the two-year period.

One found a buyer, another announced plans to retire, and others took steps to reinvent their banks.

PNC, Plaid and Venmo have been blamestorming over customer data-sharing issues of access, security and consent.

Sen. Mike Crapo delivers a crushing blow to pot banking efforts; the CFPB draws notice for its lack of fair lending enforcement; Rep. Maxine Waters says she will call on Wells Fargo board to testify next year; and more from this week's most-read stories.

Industrial Bank CEO Doyle Mitchell has spent countless hours in New York since his bank bought the failed City National in November, meeting with existing customers and plotting his growth plans.

The fresh optimism is starting to outweigh some of the worries hanging over the sector heading into the new year.

The bank sees digital assets as part of the future and "we want to be there when this happens," says Ralph Achkar, head of digital product development and innovation.