Economy

The money is intended to help the North Carolina city become a fintech hub.

A bipartisan group of senators told Mel Watt, the regulator who oversees Fannie Mae and Freddie Mac, that he shouldn't allow the companies to recapitalize without congressional approval.

The OCC’s draft fintech charter requirements are far from perfect. States can seize this chance and collectively create a better regulatory environment for fintechs.

The Trump administration is seeking to immediately shut down the Treasury Department’s grant programs for community development financial institutions.

A group of 10 Republican senators are calling on Treasury Secretary Steven Mnuchin to drop the government’s appeal of a ruling last year that rejected MetLife’s designation as a systemically risky firm and to de-designate the remaining two SIFI nonbanks.

Creative growth strategies are helping banks with $10B to $50B of assets — including Webster and TCF — improve profitability. These ‘tweeners’ deal with tougher regulations than smaller competitors without the scale larger ones have to absorb the expense.

From SoFi to Venmo, fintech competitors are creating a customer experience that is so fast and easy community bankers like Julieann Thurlow cannot help but worry.

As banks work to integrate their mobile apps with their physical channels, the march toward universal cardless ATM technology continues.

On Dec. 31, 2016. Dollars in thousands

It's difficult for acquirers to have the proper payments technology available when merchant interest peaks. This is even more difficult as efforts such as Smart Cities and Internet of Things initiatives overwhelm retailers with options.

On Dec. 31, 2016. Dollars in thousands

The industry needs to establish a clear set of rules and standards so safe and secure financial data access and sharing continues unrestricted.

As trends in payments technology take hold or taper off, it's safe to say that one is firmly entrenched: The shift to mobile and integrated point of sale devices.

The Trump administration’s interest in reinstating barriers between commercial and investment banking is sparking conversations about what such a proposal would entail.

The groups and industry trade associations want the Treasury Department and the FHFA to allow Fannie Mae and Freddie Mac to build up capital reserves.

Implementation of the second phase of the common securitization platform had been projected for next year, but the anticipated time frame was delayed following "lessons learned" from the first phase.

One in four acquirers say that how they approached Payment Card Industry security standard compliance caused them to lose merchant accounts.

As the House Financial Services Committee prepares for a hearing on the struggles of chartering new financial institutions, CU observers debate whether or not the credit union movement – amid an ongoing trend of industry consolidation – actually needs any new entrants.

The German bank said the new space will help its 7,000 bankers in New York connect with startups.

On Dec. 31, 2016. Dollars in thousands, except for average loan amount