SoFi reports record revenue and loan origination
The digital bank and lender did not increase its full-year outlook in anticipation of an interest rate freeze.
Bankers fight to hold back business capital because of “credit unions”
Community banks’ primary objection to the Main Street Depositor Protection Act appears to be that one provision of it would give credit union customers the same level of deposit protection as bank customers.
Warsh clears Senate Banking Committee
Kevin Warsh’s nomination to be the next chair of the Federal Reserve passed through the Senate Banking committee in a party-line vote.
Blue Owl Scrutiny to Ramp Up as Shares Near ‘Doomsday’ Level
Blue Owl Capital faces fresh scrutiny from investors and Wall Street analysts with the release of its first-quarter earnings.
OppFi, a nonbank consumer lender, reaches deal to buy a bank
The Chicago-based fintech, which offers high-cost loans, has agreed to acquire the parent company of BNC National Bank. The deal would grant OppFi a national bank charter, which offers a way around state interest rate caps.
Bank groups eye changes to Fed’s relaxed capital plans
Bank groups said that although the Federal Reserve’s eased capital plans are a major improvement over previous versions, the recent proposals still need changes to help avoid risk assessments they say may hinder banks’ ability to boost lending.
Customers sue Citizens, Frost over third-party data breach
Plaintiffs allege the banks failed to safeguard names, Social Security numbers and account data after a breach at a vendor neither bank has named.
Banks need to be at the table in debates over AI agent identification
Banks have a narrow window to shape how agent identity verification works before transaction volumes force ad hoc approaches that will be harder to standardize later.
How the Fed really controls inflation isn’t through rates
Presumptive Fed Chair Warsh isn’t a fan of jawboning, but that is actually, exactly how the central bank gets its point across.
Visa bets on World Cup, agentic AI, to boost earnings
The payments giant is counting on the FIFA World Cup this summer for windfalls in its consumer and commercial businesses. Long-term, agentic commerce is creating a whole new ecosystem to which Visa can attach itself, Visa CEO Ryan McInerney said on a call with analysts.