The San Francisco fintech collected $1.6 billion in deposits during the second quarter after buying a small bank earlier this year. Though SoFi pays relatively high rates to its depositors, CEO Anthony Noto said the company's funding costs are far lower than they were before the bank acquisition.

In global news this week, regulators in EU worry about staffing, American Express expands B2B cross-border payments, ATMs in New Zealand get an upgrade, and more.

Union Savings Bank's new technology is helping the bank compete with larger competitors and attract younger customers, its leaders say.

The Maryland bank has lost 13% of its credit card customer base in the past year amid a flurry of marketing activity by newer players. But it is refusing to panic.

The San Francisco company is relying more on banks and credit unions, and its own acquisition of a bank last year, to fund its consumer lending business. The flexibility has proved helpful as demand from other loan buyers wanes.

"Voluntary changes are not enough to assure that our lowest-income consumers will be protected in the long run," writes the Democratic House member from New York City.

Climate change, gun control and the overturning of Roe v. Wade are just some of the latest issues banks are addressing.

The financial technology startup Zepz has named Bill.com Chief Operating Officer Mark Lenhard as its next chief executive, people familiar with the matter said.

The Connecticut bank’s proposed combination with American Challenger Development Corp. was terminated because the two parties didn’t anticipate they could meet the closing conditions. The fintech now says it’s retained Citigroup to explore a possible sale.

The payments giant Visa is in talks to join an extension of the fintech startup Airwallex’s latest funding round, according to people familiar with the matter.

Alloy, Marqeta and other technology firms drafted policies to assist employees in states that restrict abortion access, even before they had all the answers.

The operators of a Texas payments firm with ties to the U.K. pleaded guilty in the U.S. to money laundering failures after their business facilitated the shipping of $160 million to Nigeria over about three years.

The boss of the U.K. digital bank Monzo Bank said he’s targeting growth rather than immediate profit during a turbulent time for the fintech industry, after nearly doubling annual revenue while widening losses.

Crypto startups finally felt the effects of an economic storm that has been cooling digital currencies, public stocks and venture capital all year. Funding to private crypto companies in the second quarter fell to its lowest level in a year, according to data from PitchBook.

GoHenry, one of many digital banks for kids and teens in the U.S., is based in London but is broadening its European presence with the acquisition of the French fintech Pixpay.

The online consumer lender touts its AI-based underwriting models as a key strength, but analysts say larger-than-expected losses on some of its loans are contributing to funding pressures.

Traditional banks already have the tools they need to win back consumers’ confidence, but they need to be smart about deploying them.

Consumers welcome more generous forgiveness policies and the chance to have past defaults erased from their record, but they need assistance connecting the dots, financial services executives say.

The finance app Revolut is teaming up with Stripe to support payments in the U.K. and Europe.

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help.