Apple Card’s savings account tops $10 billion in deposits in 15 weeks
Consumers with the Apple Card deposited more than $10 billion in Apple Card’s high-yield savings account that Goldman Sachs provides, the technology giant said.
Munis largely ignore Fitch downgrade, but wider economic impact unclear
While it’s still relatively early to tell how much — if at all — the muni market will be impacted, Kara South, portfolio manager at GW&K Investment Management, said downgrades of certain municipal bonds are likely to follow.
A credit union buying First Sound Bank after prior sale was canceled
Harborstone Credit Union in Lakewood, Washington, plans to take over the Seattle Bank, which scuttled a deal to sell to BM Technologies last year.
SoLo Funds breaks million-customer mark, challenges the status quo
The fintech lender says its loans are meeting a need for people living paycheck to paycheck that the mainstream financial community is not, and that its loans cost far less than subprime credit cards or payday loans.
Regulatory deterrence, policy debate and litigation: crypto’s future
Regulators remain skeptical toward digital assets in the wake of major crypto-industry partner-bank failures, but in the absence of legislative direction, oversight of crypto is largely left to the Securities and Exchange Commission. The SEC’s approach has been aggressive, but its authority has been muddied by recent court decisions.
New leader, same strategy for Peoples Bancorp in Ohio
Investors should expect “consistency, predictability,” says COO Tyler Wilcox, who is scheduled to take over for longtime CEO Chuck Sulerzyski when he retires next spring.
Ripple’s stablecoin test, Klarna’s open banking rebrand
This week in global news: Ripple is working with the Pacific island nation of Palau on a stablecoin test, Klarna is dropping the Kosma brand from its open banking service, and more.
How earned wage access apps are rapidly evolving
Competition in the earned wage access arena is leading to more innovation — and emphasizing the need for regulation, according to a new report from Harvard University.
States must stop denying consumers access to debt resolution services
In 18 states, consumers are not allowed to use trained debt resolution professionals to seek relief from their creditors. That needs to change.
Greg Seibly becomes EverBank CEO after divestiture by TIAA
Seibly, a 35-year banking industry veteran, takes over the Jacksonville, Florida, online bank now that private equity investors have purchased it from TIAA.