Financial institutions

BlueVine, an online small business lender based in Redwood City, Calif., said Wednesday that it has closed a $49 million funding round.

After Wells Fargo became the first U.S. bank ever sanctioned over its resolution plan, observers are wondering what it means for the future of the institution and the living will process.

Of the five banks that failed their living will tests earlier this year and were forced to resubmit plans, only Wells Fargo failed again, resulting in immediate regulatory action that will restrict its growth, including its ability to expand internationally and buy nonbank subsidiaries.

Both major brands are accelerating a move away from traditional checkout, and all retailers need to make adjustments for the future.

Industry observers worry that the Dodd-Frank Act's Title II — which gives the Federal Deposit Insurance Corp. authority to oversee the resolution of a complex financial institution — could be the first thing under fire when the Trump administration undertakes financial reform.

OnDeck Capital, the New York-based online small-business lender, has obtained a $200 million revolving debt facility from Credit Suisse.

As regulators open the door to fintech firms applying for bank charters, what has already been a long journey to this point is only going to get more intense.

WASHINGTON — The Federal Reserve Board is slated to vote next week on a final rule meant to help regulators recapitalize a major U.S. bank if it should run aground, one of the last significant capital regulations that the agencies have yet to complete.

The bank must make fundamental changes to avoid becoming the ultimate scapegoat for grievances about Wall Street's biggest banks.

Mobile wallets can be the single location for not just cards, but a wide variety of financial and customer services that banks provide.

And that was only the beginning. Bank CEOs speaking in New York provided a long list of financial reforms that they would like to see under the incoming Trump administration.

Rather than address systemic risk with impractical capital requirements, regulators can make a few subtle changes that will force the shrinkage of the largest banks gradually over time.

President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

In a wide-ranging interview with American Banker, Cleveland Fed President Loretta Mester talks about what should be kept in the push to deregulate banking regulation, as well as her view on reforming the Fed, ending "too big to fail," the future of Basel and the effect of a Trump administration on financial services.

President-elect Trump faces legal questions over his idea to hold remittances ransom to fund a wall in Mexico, but the industry should take the threat seriously.

Federal Reserve Gov. Daniel Tarullo strongly defended bank regulators’ responses to the 2008 financial crisis and faulted competing Republican proposals to replace the Dodd-Frank Act with a simpler, single leverage requirement as shortsighted.

With the anti-globalism sentiment growing in parts of Europe and the U.S., a "my country first" approach to international bank regulation will hurt financial institutions and their local economies.

Gen Z is coming fast on the heels of millennials. For e-commerce, payments and financial services, they have an even shorter attention span.

The recent shake-up at CAN Capital could spark greater scrutiny of a sector that has drawn comparisons to the bubble-era subprime mortgage market.

The credit reporting firm TransUnion has unveiled a new partnership that is designed to provide more thorough data to investors in marketplace loans.