By exempting small banks from compliance with its open banking rule, the Consumer Financial Protection Bureau is relegating them to the dustbin of history. That cannot be allowed to happen.

The Synapse failure and recent enforcement actions make it clear that fintechs need to up their regulatory compliance game. At the same time, they have an opportunity to help shape future rules.

Los Angeles-based Dave got sued Tuesday by the Federal Trade Commission. Its stock price briefly plunged before soaring in the wake of Donald Trump's election.

Esusu, Foyer, Divvy Homes and Tomo Mortgage are among the fintechs trying to give first-time homebuyers a break, alongside community development financial institutions like Southern Bancorp. 

American Banker and Best Companies Group are gearing up for their annual ranking of fintech companies that keep their employees happy.

House Republicans called on regulators to balance the need for more rules around bank-fintech partnerships with the need to foster innovation and consumer access and emphasized collaboration with state regulators.

This month's roundup features news about the rising concerns of Zelle fraud, JPMorgan Chase's AI arms race with Capital One and more.

The online lending marketplace provider now has the support of Jonathan L. Jackson, an Illinois representative. It's also facing lawsuits from the CFPB and customers.

Community banks will have to pay more, get creative and train from within to build robust banking-as-a-service divisions that can withstand higher regulatory standards.

The credit union has been using Upstart's AI-based loan decision model to help creditworthy consumers consolidate their credit card debt.

BofA had nearly 1,100 artificial intelligence and machine learning patents and pending applications within its portfolio at midyear, and more than half have been granted already.

Acting Comptroller of the Currency Michael Hsu said the bankruptcy of Synapse earlier this year highlights regulatory gaps around the state-based licensing of businesses that transfer money.

A consulting firm hired by the bank, Ankura, has reconciled ledgers between Synapse and its partner banks, Evolve says.

The consumer neobank, made by and for Native Americans, understood its target audience deeply and had a plan in place to earn revenue beyond interchange fees. Its struggles to get off the ground reflect other challenges — and lessons — for neobanks where a good idea is only the starting point.

The regulator cited Axiom Bank for unsafe and unsound practices as well as violating the Bank Secrecy Act and anti-money laundering requirements.

The company, which helped consumers strategize their credit card payments and pivoted to a B2B model earlier this year, has sold its intellectual property two months after it folded.

It won't be cryptocurrencies or central bank digital coins that revolutionize global finance, but rather banks offering deposit tokens that have many of the benefits of both.

Banks are trying to get a grasp of the Consumer Financial Protection Bureau's financial data rights plan, from preparing for an influx of data requests from fintechs to meeting ongoing compliance.

As a public company, the neobank would have the capital support to keep growing quickly. It would also have to rein in costs and show a profit.

The company has signed an agreement to sell Continental Finance its entire card portfolio.