The San Francisco bank shed its fifth regulatory order this year — this one related to loss mitigation practices in its home lending business.
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The president's selection of Federal Reserve Gov. Michelle Bowman as the next vice chair for supervision comes as banking groups and their allies in Congress asked the administration to fill the position quickly. Bowman was the preferred choice for many in the industry.
3h ago
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It's been rare for a fintech to win regulatory approval to become a bank, with none receiving approval under President Joe Biden and only a few successfully obtaining charters before that.
2h ago
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The card network said it saved would-be victims $350 million in the first year after it combined several crime-fighting units.
5h ago
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Amid troubling news of tariffs and layoffs, dropping delinquencies offer a rare sign of consumer health.
5h ago
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London-based OakNorth has amassed a sizable U.S. loan portfolio and had been seeking a U.S. charter to simplify its funding model.
6h ago
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A new award will recognize innovations that are changing the way bankers do business.
March 16
Most Influential Women in Payments honorees say the dramatic expansion in technology presents new opportunities and challenges as employers evolve away from traditional business models.
Honorees from American Banker's Most Influential Women in Payments discuss spotting tangible uses for innovation, rather than buying into hype.
Each year, American Banker recognizes the women who are advancing the payments industry in banking, retail, acquiring, processing and more.
- Software code generation and knowledge management are two of the places the bank has begun using generative AI to improve efficiency.
- Thomas Rudzewick, CEO of Maspeth Federal Savings Bank, worries about the growing crisis of low savings among millennials and Gen Z. He believes banks like his can help reverse this trend with financial literacy and innovative savings tools.
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Mercury said it simply outgrew the relationship. Evolve said it's kicking high-risk end users out of its program and as a consequence some fintechs are going elsewhere.
March 14
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Finwise Bancorp believes a new plan to hold more of the fintech loans it originates on its balance sheet will boost profits in 2025.
March 14
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GetAugie targets consumers new to credit, undercutting mainstream banks' secured cards that often charge an annual fee and carry hefty annual percentage rates.
March 14
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Retired banker Brad Schwartz is set to join First National as finance chief; Bar Harbor Bankshares agrees to acquire Guaranty Bancorp; CDFI Friendly America reveals new data on lending; and more in this week's banking news roundup.
March 14
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Prometeo aims to make business-to-business payments and remittances between the U.S. and Latin America easier and cheaper.
March 14
