Economy

The fintech, which has applied for a California banking license and federal deposit insurance, aims to become a full-service online bank for 1 million Americans by year-end, says Ron Oliveira, its U.S. chief executive.

Changes to CDFI Fund regulations could make it significantly easier to raise the capital required to get a new institution off the ground.

Liquidity sensitivity drives companies to procure tools to help them determine and execute the right strategies to get paid faster, says Bottomline Technologies' Jessica Cheney.

To drive the recovery we need to move beyond traditional data and models to incorporate new transaction and payment information that is more timely, more insightful, and more inclusive, FinRegLab's Melissa Koide and FICO's Larry Rosenberger write.

UMB Financial’s success in aviation financing has boosted fee income, and the Missouri company has opened an office in Dublin — a hub for airplane sales and leases that could get busier as the airline industry restructures.

The de novo, which raised $33 million in initial capital, will become the state's third new bank since the 2008 financial crisis.

Bank economists predict further improvement in the quality and availability of consumer and business credit now that a third stimulus package has been approved. Still, COVID-19 vaccine distribution will determine how quickly the U.S. economy rebounds.

Keith Costello, who is looking to form Locality Bank, was president and CEO of First Green Bank when it was sold in 2018.

Wells Fargo Chief Executive Charlie Scharf said he sees the U.S. economy coming back from the coronavirus pandemic in a strong way in the second half of the year.

Citigroup’s dealmakers have been keeping busy with family offices looking to get in on the blank-check frenzy. Now the lender wants to bring its private bank a piece of the action.

Government relief programs and lenders’ forbearance have kept U.S. small businesses from defaulting on their debt en masse as revenue slumped during the pandemic crisis, according to a new analysis.

Big banks led the push to offer multibillion-dollar bonds that fund affordable housing, education and nonprofits that serve needy communities. But Truist's recent $1.25 billion bond is a sign that regionals want to attract progressive institutional investors — and burnish their images.

Organizers of the proposed Our Community Bank still need to raise $18 million before opening.

Payservices would use deposits largely to support its existing business. It has no plans to make loans.

The Cleveland company is more than doubling an earlier commitment in order to support racial equity and environmental sustainability.

Harmening, set to take the helm of Associated Banc-Corp next month, is being asked to replicate the digital transformation he led at Huntington Bancshares. His career path is a signal to the industry’s rising stars that the road to the corner office includes hands-on technology work.

It's crucial small businesses continue to expand user experience improvements made during the first year of the pandemic, says NMI's Nick Starai.

In its final days, the Trump administration imposed limits on Fannie Mae and Freddie Mac’s holdings of mortgages with loan-to-value ratios above 90% and certain other characteristics. Critics say the changes were unnecessary and disproportionately penalize borrowers of color.

With the pandemic driving the need for contactless payment options in health care settings, RevSpring has extended its Deviceless Payments offering to include point-of-service payments — turning payments into mobile transactions and bypassing the need for point of sale terminals.

Nonbanks had worried the end of the Paycheck Protection Program Liquidity Facility would hurt their ability to lend to small businesses. On Monday, the Federal Reserve announced the facility would be extended for three months.