The San Mateo, California-based online consumer lender has now laid off some 500 employees in recent months. The downsizing reflects broader challenges in the tech industry, but it also comes as Upstart struggles to get enough funding for its loans.

In this month's roundup of American Banker's favorite stories: Development of central bank digital currencies gains momentum, ongoing lawsuits against JPMorgan Chase and PNC address the banks' liability and more.

Russia's aggression has brought added motivation to the team at Fuelfinance, according to founder and CEO Alonya Mysko. 

The company reported its seventh consecutive quarter of record adjusted net revenue.

From BNY Mellon to the mutual fund giant Fidelity Investments, BlackRock and Nomura Holdings, members of the Wall Street establishment are planning for a future in digital assets.

JPMorgan Chase alleges in a lawsuit that the college-planning website Frank provided misleading information before the bank bought it. Experts say there were plenty of red flags from the beginning.

JPMorgan Chase has a head start when it comes to developing and deploying artificial intelligence in banking, according to a new study. 

The company will also slow investments in new products this year as it copes with economic uncertainty.

The challenger bank will run a co-marketing campaign with the Eastern Shawnee Tribe of Oklahoma when it launches this spring and share interchange revenue with the tribe.

COVID-19 accelerated the adoption of more digital options for helping members. Now more credit unions are hoping that artificial intelligence can help reduce stress on frontline staff.

Thieves are getting more organized and aggressive in how they steal from shelves to fund bigger schemes. Emerging checkout systems that track shoppers can deter some of this activity, but not enough to address the full scope of the risk.

Alongside the merger, Orrick is launching a unit focused on regulatory advice.

Ordonez will leave her chief innovation officer job at Webster Bank.

The company, which interprets foreign credit bureau data, is opening its first outpost outside of the U.S.

Neobanks and online lenders are expected to address credit concerns, product development and balance sheet resilience in upcoming reports.

The fintech is also relying more heavily on its bank charter as rising interest rates make selling loans to investors more challenging.

Online lenders say they are helping people who can't get loans elsewhere, at least without paying high overdraft, NSF or rollover fees at banks or payday lenders.

Challenger banks and apps such as Zeta, Onward and Nerve are helping people manage complex financial relationships beyond simple joint accounts.

The Chicago-based institution partnered with MANTL to streamline how credit unions onboard new customers in multiple channels.

The fintech says its users took out 70 million cash advances in 2022, and many grew their paychecks along the way.