BitGo and PicPay go public in ‘uncertain’ fintech IPO market
The crypto and payment fintechs both debuted on the stock market in late January with strong openings, then traded down ahead of a four-day partial government shutdown.
NY fintech founder Gökçe Güven charged in $7M fraud case
Prosecutors claim the Forbes 30 Under 30 honoree maintained two sets of books to hide Kalder’s actual revenue of just $60,000.
Banks say core provider power needs to be checked
Banking trade associations told the Office of the Comptroller of the Currency that regulators should reform rules around third-party risk, saying concentration and limited choice of core service providers places an undue burden on banks.
Affirm shores up exclusive distribution deals ahead of earnings
The buy now, pay later lender is carving out a lane for itself with exclusive deals with Intuit’s Quickbooks Payments and Expedia’s websites. It also will be the default BNPL provider for Bolt’s one-click checkout.
Columbia in New Jersey to enter New York City in $597M deal
Acquiring the $5.8 billion Northfield Bancorp would give Columbia a presence in both Brooklyn and Staten Island. The deal provides a window into the impact of New York Mayor Zohran Mamdani’s plan to freeze rents on the city’s multifamily real estate market.
CFPB accused of siding with credit bureaus on complaints
The National Consumer Law Center is claiming the Credit Data Industry Association wants to suppress Consumer Financial Protection Bureau complaint filings.
Thread Bank’s Chris Black sees opening in bank charter boom
Some traditional bankers are unsettled by the wave of crypto and fintech banks getting bank charters. This Nashville bank CEO sees opportunity.
Congress must act to bring real accountability to proxy advisory firms
Two large proxy advisory firms exert extraordinary and pernicious influence on public companies in the U.S. Congress must act to protect American businesses and the investors whose future relies on them.
PayPal fires CEO Alex Chriss as branded checkout falters
HP CEO and current PayPal board chair Enrique Lores will take over March 1, following a deep slump in the payment company’s key metric.
The AI prompt that could wipe out banks’ net interest income
It won’t be long before bank customers can ask an AI agent to optimize their returns on idle cash. When it happens, banks’ net interest income is going to come under direct threat.