DeSantis vetoes effort to allow higher rates on Florida consumer loans
The legislation would have allowed nonbank lenders to charge more for consumer installment loans. Gov. Ron DeSantis, a Republican presidential candidate, explained his veto by saying that the bill might result in additional consumer indebtedness.
Banks take stress tests in stride, but regionals fare worse than others
The Federal Reserve’s highly anticipated stress tests indicate that all banks are well-capitalized to weather an economic downturn, but mid-sized regional banks were among those with the lowest minimum capital levels.
BMO capital markets cuts about 100 jobs with deals drying up
Globally, deal values have fallen more than 40% this year to $1.2 trillion, according to data compiled by Bloomberg.
Texas bank is taking aim at businesses’ “chaos spend”
Dallas-based Texas Capital Bank believes virtual credit cards, offered through a new fintech partnership, can help small business customers make their payment processes more efficient
Banks can meet Gen Z where they are, via platforms like Spotify
Younger customers want personalized engagement, including in their music playlists, experts said at American Banker’s recent Digital Banking conference.
NCR lays out a roadmap for its new ATM-specific spinoff
The payments and bank technology firm says its standalone NCR ATMCo will focus on “ATM-as-a-service.”
Over $200 billion lost to pandemic loan fraud: Watchdog
A new inspector general report suggests that grifts were more pervasive than has previously been reported. The Small Business Administration, which drew blame in the watchdog report, took issue with the findings.
Warren: Regulators have taken the ‘wrong lessons’ from bank failures
Sen. Elizabeth Warren, D-Mass., said bank regulators have been shortsighted in allowing banks to merge and should be tougher when issuing M&A guidelines.
Latest global payments news
This week in global news, U.K. payment regs draw fire, Alipay expands, Italy considers a central bank digital currency and more.
Fintech firm Innoviti seeking funds at $350 million value, sources say
The startup processes more than $10 billion of purchases annually and was among the first digital lending platforms in India to provide short-term working capital for small or family-owned merchants.