Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.

If companies want to keep partnering with banks to build innovative financial services, they need to stop thinking about regulation as their partner banks' problems and start being part of the solution.

In the U.S. and around the world, women still face many barriers to financial inclusion, and workplace practices that make it more challenging for them to build wealth. It doesn't have to be that way.

Fintech app Yotta filed a lawsuit against partner bank Evolve, arguing that it conspired with Synapse to misuse customer funds.

The Federal Deposit Insurance Corp.'s proposed rule aims to improve record keeping for custodial accounts, while the merger policy would increase regulatory scrutiny for combinations involving the largest banks.

The company, a pioneer in AI-based lending, says improvements to its models and long-term commitments from the banks it works with will bring about positive returns in the third and fourth quarters. 

At a New York event, industry practitioners shared how they are addressing cultural, compliance and logistical objections to making loans based on bank account data.

A letter led by Sen. Elizabeth Warren, D-Mass., urges bank regulators to crack down on banking as a service, while another led by Sen. Jack Reed, D-R.I., asks that the Consumer Financial Protection Bureau more closely monitor buy now/pay later companies.

The bank has partnered with a fintech, Zentist, to give dentists a system that automates insurance and billing processes.

First Electronic Bank is using technology from Spring Labs to analyze its fintech partners' customer communications and identify problems.

SpringFour, which partners with banks and lenders to deliver financial resources to their end users, will join the C&R Software umbrella, where it hopes to expand into other markets beyond financial services.

The banking-as-a-service company is still going through bankruptcy proceedings and millions in customer funds remain missing, but founder Sankaet Pathak has already made a fresh start and won venture capital support.

Nonbanks that rely on sponsor banks to underpin their financial services may assume that "going direct" is safer after the Synapse bankruptcy. But banking-as-a-service middleware has its merits.

The Swedish institution is adding savings accounts to its signature buy now/pay later service as it plots an IPO. Analysts say it will be a struggle to go against U.S. institutions.

Chatbots and other non-human service options got lower scores in J.D. Power's annual survey on credit card satisfaction, despite years of shifting from call-center agents to software to address client problems.

Minneapolis-based buy now/pay later fintech Sezzle has partnered with the Minnesota Timberwolves of the National Basketball Association to have its brand represented on uniforms until 2027.

The consumer lender has signed a nonbinding letter of intent to sell its credit card portfolio, which will simplify its business to personal loans and automated savings.

In short, if the early days of BaaS were driven by market opportunity, the coming days of BaaS will be driven by the operational apparatus and software to acquire and manage that opportunity.

Unless the SEC appeals, a New York judge's decision brings an end to the regulator's four-year battle with the crypto company. But it leaves questions over the legality of crypto unanswered.

Lincoln Savings Bank and Vantage Bank are two new clients of banking-as-a-service provider Unit. They say it improves their ability to 'go direct' rather than hinder it.