Newtek CEO: Bank ‘misunderstood’ amid higher credit losses
Investors seemed to agree with CEO Barry Sloane’s argument that strong earnings will outweigh a jump in nonaccrual loans.
How Santander plans to grow in the U.S.
While other European-based banks have retreated from the United States, Santander is doubling down by building out its nationwide digital-banking platform. “Unequivocally,” said U.S. CEO Christiana Riley, “the opportunity … is so clear.”
Powell leaves door open to staying at Fed past 2026
Federal Reserve Chair Jerome Powell declined to say whether he would depart the central bank after his chairmanship ends next year, as is typical with Fed chairs who are not reappointed. He also pushed back on criticism from one potential replacement.
PayPal plans Apple Pay rival in Germany
The payment company joins other firms that are expanding apps in Europe, where Apple has agreed to ease access to supporting technology. Plus, the U.K. plans a new crypto crackdown.
Bessent defends temporary FDIC chair, seeks permanent pick
The Treasury secretary tells the House Financial Services Committee that he is vetting candidates to fill the role and says acting Chair Travis Hill has been effective.
Navy Federal offers debt-free members a path to credit
The credit union partnered with Bloom Credit to offer members a new way to build their credit score by sharing rent and utility payment data.
Upstart beats expectations, but outlook worries investors
The AI lending platform company reported strong earnings and revenue, as well as deals with Fortress and Walmart, but investors appear to be spooked by economic uncertainty.
Chain saws have no place in financial services regulation
The last time someone decided to gut a major financial services regulatory agency, we got the Great Recession. DOGE cuts to the Consumer Financial Protection Bureau could trigger similar pain.
HSBC offers Trump tariff loan to cover clients’ import costs
The London-headquartered bank is extending its TradePay platform to directly cover the cost of tariff payments, allowing importers to effectively borrow to meet the increased expenses involved in shipping products into the U.S.
How agentic commerce redefines AI’s role in payments
AI agents have the power to automate a number of once-manual tasks: They can conduct background research, generate content, write code and analyze data. In their latest evolution, driven by Visa, Mastercard and other fintechs, payments are now on the menu of services.