Michael Hsu is voicing concerns about the increasing disintermediation of accountability for banking services as more banks collaborate with nonbank entities. In an interview, he also addresses industry concerns about the Basel endgame proposal and notes banks' growing interest in tokenizing real-world assets.

As banks increasingly explore the applications of generative artificial intelligence, regulators are deliberating about the systemic risks that the technology may pose because of their unpredictability, the potential for herd behavior, replication of human biases and AI's inability to predict extreme scenarios.

Five years after going public, with growth slowing and the stock trounced, losing 57% in just the last three months, investors are demanding a clear blueprint for how Adyen can get its mojo back.

The Federal Trade Commission penalized the finance app Brigit after alleging it misled customers about being able to access "up to" $250 in cash advances in exchange for a monthly fee and made it difficult for them to cancel their subscriptions.

FTX's implosion made it even harder for crypto-related businesses to work with U.S. banks. With the fraud conviction of the company's founder, regulatory clarity may gradually come.

Amazon, Apple, Meta, Alphabet and X have all been ramping up their ability to offer payments services, loans and other traditional bank products.

This week the Small Business Administration followed through with a controversial policy change by granting access to its flagship 7(a) program to three additional nonbank lenders. These new participants vowed to ramp up their small-business lending efforts.

The 16-year-old site struggled to monetize, but experts said personal financial management products should focus on engagement.

Companies such as Visa and Mastercard, as well as banks and retailers, are stepping up their investments in artificial intelligence to reach small businesses and spot new uses.

Intuit is shutting down one of the most popular personal financial management sites of its time — which attracted millions of users despite its counterintuitive approach to accessing consumer data.

The card network sells aggregate information about customer spending habits, which data-privacy advocates say goes past Mastercard's role as a payment processor. Mastercard explained the recent removal of certain advertisements as a business decision.

Charlie, a neobank marketed to people 62+, and Carefull, which partners with financial institutions, recently raised their Series A's. A third, called EverSafe, is embarking on its first fundraise.

The tech billionaire wants the former Twitter's users to manage all of their finances on the site — the sooner, the better.

President Biden has directed government agencies to develop new rules on protecting privacy and security, preventing intellectual property theft, reducing bias and more in banks' use of artificial intelligence models.

President Joe Biden's executive order tackling artificial intelligence could reprioritize the Consumer Financial Protection Bureau's work in fair lending on artificial intelligence algorithms.

The product-comparison site, which rates and ranks credit cards, is debuting its own secured credit card that it believes will help users improve their credit scores and pursue better offers.

The neobank is also benefiting from its product diversity.

In October's roundup of top banking news: Navy Federal's contract with the Department of Defense remains in limbo, check fraud takes a bite out of Regions Financial's third-quarter earnings, a Community Reinvestment Act rule gets finalized and more.

By purchasing the merchant acquirer Atlantic-Pacific Processing Systems, the fintech Stax has rounded out its offerings in a way that echoes the structure of larger payment companies.