AI is changing the way people shop. Affirm’s Levchin is here for it
The founder and CEO of the buy now pay later giant spoke with American Banker about how agentic AI will soon revolutionize the way consumers shop, make purchases and manage their personal finances. That will be accretive for Affirm, especially in a world where agents are making payments on behalf of consumers.
As the federal shutdown ends, here’s what banks need to know
The House is slated to vote on a resolution to fund the government Wednesday morning, setting off the resumption of programs that are important — particularly for the smallest banks.
6 ways bank-fintech tie-ups have changed since Synapse collapse
Tougher contracts and more transparency are two of the improvements that have come about since the banking-as-a-service middleware provider’s bankruptcy, practitioners say.
Fannie, Freddie eyeing assumable or portable loans: Pulte
Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.
Congress needs to level the playing field for American banks
A former member of Congress and current bank chairman calls on lawmakers to pass several reforms that would allow banks to take back market share that has been lost to nonbank competitors.
State Street buys private-sector inflation data provider
The Boston-based custody bank has acquired PriceStats, a private economic researcher. The move comes at a time when federal data agencies are weathering budget cuts, political attacks and a government shutdown.
$50M of new capital primes small Georgia bank for growth
Barwick Banking Co. will have the wherewithal to accelerate its expansion in Georgia and Florida after a $50 million investment from a new venture capital platform.
How banks and fintechs are offering help during gov shutdown
The fintech SpringFour has partnered with financial institutions to connect individuals to community resources in a record-long U.S. government shutdown.
Visa, Mastercard take another crack at a fee settlement
Following a judge’s rejection of a 2024 settlement with merchants, the card networks are offering a slightly higher interchange reduction and easing card acceptance rules. It’s the latest attempt to end a legal fight that’s two decades old.
Miran says Fed should cut 25bps in December ‘at a minimum’
Federal Reserve Governor Stephan Miran said emerging stresses in housing and private credit markets warrant a reduction to short-term interest rates. While preferring a 50 basis point cut in December, Miran said he would settle for a 25 basis point reduction.