Banking
-
Banks’ hidden role in the carbon footprints of large corporations
Many large U.S. corporations have made specific pledges to reduce their greenhouse-gas emissions as part of the fight against climate…
Read More » -
Black caucus ups pressure on Biden to cancel student debt
The Congressional Black Caucus is requesting a meeting with President Biden to press the case that canceling student-loan debt is…
Read More » -
Dimon sets out to win back JPMorgan shareholders after stock slide
Inside JPMorgan Chase, senior executives are counting on an investor day to redeem themselves from a routine January conference call…
Read More » -
Truist’s Daryl Bible to retire, search begins for new CFO
Truist Financial will conduct a search for a new chief financial officer after Daryl Bible, who has served in the…
Read More » -
Agility Bank founder raves about the tech benefits of starting from scratch
As she designed and built a new bank that will launch Monday, Lauren Sparks was careful not to overly rely…
Read More » -
From superstore to super app: Walmart’s next steps in finance
To date, Walmart’s approach to financial services has been like its approach to running a superstore: Whatever you need, it’s…
Read More » -
High level of trust in SBA creates opportunities to boost access to capital
The pandemic may be receding, but the economic impact it had on small businesses across the country has its own…
Read More » -
Canadian credit unions seek a leg up through open banking
Canada’s largest credit unions are joining forces to prepare for the implementation of open banking in the country, giving them…
Read More » -
Credit card balances grew in April at fastest rate in 26 years
Two years after massive cash buffers helped many U.S. consumers pay down their debts, credit card balances are back. In…
Read More » -
Two years after PPP, small businesses still struggle to access capital
More than four in 10 small business owners doubt they would be able to cover an unexpected $5,000 expense, and…
Read More » -
Gerald Corrigan, who gained fame as a troubleshooter for the Fed, dies
Gerald Corrigan, who spent a quarter century at the Federal Reserve, including an eight-year stint as president of the Federal…
Read More » -
Fed nominee Barr ‘well positioned’ for confirmation after Senate hearing
WASHINGTON — Michael Barr, the Biden administration’s second pick to become the Federal Reserve’s chief banking regulator, faced little resistance…
Read More » -
7 data breach reporting rules banks need to understand
On May 1, the protocols U.S. financial institutions must follow after a cybersecurity breach changed, and more changes are still…
Read More » -
Women-owned bank to open in Houston
Agility Bank will open its doors in Houston next week as a Minority Depository Institution primarily owned and led by…
Read More » -
Red flags for farm banks: Soaring inflation, deep drought
Farmers and the bankers who lend to them are grappling with the one-two punch of soaring inflation and long-term drought.…
Read More » -
Former regulators say CFPB is ‘no longer sleeping’ on payments
For years, there were usually less than a handful of cases at the Consumer Financial Protection Bureau that involved payments.…
Read More » -
Democrats press Biden to go big on forgiving student loan debt
Senate Majority Leader Chuck Schumer and fellow Democrats Elizabeth Warren and Raphael Warnock pitched President Biden to go big with…
Read More » -
How credit unions in California, Hawaii are rethinking branch models
Credit unions are modernizing their branch networks by incorporating smaller, more efficient designs and creatively managing real estate. Institutions in…
Read More » -
Vernon Hill sues Republic First after ouster as chairman
Vernon Hill is not going down without a fight. The death last week of an ally among Republic First Bancorp’s…
Read More » -
Ally’s wealth business adds humans to complement robo advisors
Ally Financial has launched a new wealth management offering, hiring a team of human advisors in an effort to complement…
Read More » -
Kabbage founders Rob Frohwein and Kathryn Petralia launch fintech Keep
Rob Frohwein and Kathryn Petralia, founders of the online small-business lender Kabbage, have started a new company called Keep Financial. …
Read More » -
Mastercard to cover employees’ travel for out-of-state abortions
Mastercard said it would help pay for workers to travel to access abortions if pregnancy terminations aren’t available in their…
Read More » -
Could stablecoin regulation re-risk the banking system?
WASHINGTON — As far as major market turmoil goes, banks escaped last week’s TerraUSD collapse largely unscathed. Terra and its…
Read More » -
Goldman Sachs report shows bank is losing senior Black women
Goldman Sachs Group is losing its most powerful Black women, according to new data the firm released in a report on its…
Read More » -
Plaid expands beyond data aggregation into ID and fraud tech
Plaid is branching out from its role as provider of bank account data to fintechs. It now strives to become…
Read More » -
Beware the Fed’s heavy hand in proposed CRA reforms
What is billed as an interagency Community Reinvestment Act reform proposal is really the heavy-handed handiwork of the Federal Reserve,…
Read More » -
In-person or remote work? Two payments leaders weigh in.
As the pandemic ebbs and flows, various financial institutions and payment companies are making very different decisions about whether to…
Read More » -
U.S. pries into over 100 trader and banker phones in texting probe
The U.S. is forcing Wall Street banks to embark on a systematic search through more than 100 personal mobile phones…
Read More » -
Top-performing U.S. community bank shows value of revenue diversification
Oregon Bancorp once again finds itself in a familiar perch: atop a key ranking of community lenders. For the fourth consecutive…
Read More » -
Regulators plan public hearings on TD, BMO deals
Federal regulators on Tuesday scheduled public hearings on two large bank mergers — a move that indicates they are opting…
Read More » -
Bipartisan crypto plan would create oversight body for fintech
WASHINGTON — Sen. Cynthia Lummis, R-Wyo., wants to create a new oversight body for emerging financial technologies that do not…
Read More » -
John Ryan, fierce defender of dual banking system, is dead at 58
John Ryan, a passionate defender of the dual banking system and a driving force as the president and chief executive…
Read More » -
Fintech firm Q2 is weighing options after takeover interest
Q2 Holdings, a banking-software provider, is weighing options including a sale after receiving takeover interest, according to people familiar with…
Read More » -
Mastercard begins facial-recognition rollout with retailers
Mastercard has begun to trial a biometric payment system for brick-and-mortar stores, using facial recognition rather than contactless cards, smartphones…
Read More » -
Dimon’s big pay package gets thumbs-down from JPMorgan shareholders
JPMorgan Chase’s shareholders voiced strong discontent Tuesday with the company’s most recent executive compensation packages, which included a one-time award…
Read More » -
Fed’s balance sheet runoff raises uncertainty for capital rules
The Federal Reserve’s next monetary policy shift could have an unexpected conflict with the central bank’s supervisory mandates for banks…
Read More » -
FDIC, CFPB target crypto firms that make false claims of deposit insurance
Two financial regulatory agencies are threatening to crack down on cryptocurrency and other fintech firms that falsely suggest their institutions…
Read More » -
A journey into the metaverse with Quontic Bank
Quontic Bank’s newest branch has pillars framing a grand entrance and graffiti scrawled along the base. Inside, posters advertise Quontic’s…
Read More » -
USAA scores mobile deposit capture patent win against PNC
USAA continues to take on its large-bank rivals with patent suits. A court in Marshall, Texas, has awarded the San…
Read More » -
Two board members resign from Los Angeles bank ahead of annual meeting
A new wave of boardroom turmoil has hit RBB Bancorp in Los Angeles two days before the $4 billion-asset company…
Read More » -
Ex-FHFA Chief Calabria warns of Fannie, Freddie risk
Mark Calabria, who oversaw government-controlled mortgage giants Fannie Mae and Freddie Mac under the Trump administration, is sounding alarm bells…
Read More » -
NatWest explores a separate online lender for small businesses
NatWest Group is considering launching a separate digital lender for small businesses in the U.K. to find a new avenue…
Read More » -
Berkshire tweaks bank play with $2.9 billion bet on Citi
Warren Buffett’s Berkshire Hathaway, which cut many bank holdings as the pandemic bore down on the U.S., is back with…
Read More » -
Four ways cannabis banking could cross the finish line in 2022
WASHINGTON — The legalization of cannabis banking looks as likely as ever, but the road lawmakers will take to get…
Read More » -
Vernon Hill forced out of Republic First chairman role under activist pressure
Under pressure from critical investors, Vernon Hill lost control of Republic First Bancorp’s board. After the death last week of…
Read More » -
Wells Fargo names new head of its financial advisory unit
Wells Fargo has promoted Sol Gindi to lead Wells Fargo Advisors, turning to a former JPMorgan Chase executive to lead…
Read More » -
Truliant Federal Credit Union in North Carolina names diversity leader
Truliant Federal Credit Union in Winston-Salem, North Carolina, has promoted Precious Quire-McCloud to oversee the credit union’s initiatives for diversity,…
Read More » -
Grocery shoppers hunger for buy now/pay later, Affirm says
Affirm reported healthier earnings in the most recent quarter than it had in previous earnings seasons, but some of investors’…
Read More » -
Remote notarization is becoming a must-have offering
Notarizing documents entirely over video was a matter of safety at the beginning of the pandemic, when people were eager…
Read More » -
Fintech lender on the hook for millions in fraud from one client’s losses
Like many fintechs, Grain Technologies promises financial institution partners it will stand by its product in the face of fraud,…
Read More »
