What KeyBank’s new embedded banking boss has planned
Eric Girard, who became the bank’s head of embedded banking and co-head of commercial product in October, is aiming to make the technology more accessible.
CFPB makes early exit from consent order against TransUnion
The Consumer Financial Protection Bureau ended a consent order earlier than expected against the credit bureau TransUnion, saying the company already paid a $5 million fine and $3 million to consumers.
Crypto’s real adoption curve begins when it disappears
Crypto is slowly but surely being integrated into the banking applications consumers trust and use every day. It’s not the crypto revolution purists imagined, but it’s very good news for consumers and bankers alike.
Wells Fargo, PNC tell Trustly to stop screen scraping customer data
The banks want the pay-by-bank provider to use application programming interfaces to protect consumers, they say.
Fed’s Jefferson urges proceeding ‘slowly’ with monetary policy
Federal Reserve Vice Chair Philip Jefferson said that as interest rates have moved toward a more neutral level, “it makes sense” now to proceed with caution.
Regulators are holding back secure digital identity verification
Existing law already provides the tools that would allow an across-the-board upgrade in digital identity verification, with benefits to banks and consumers alike. Regulators are the roadblock.
Banks are losing share in rapidly growing HELOC market
The volume of home equity lines of credit expanded for the 14th consecutive quarter, driven largely by fintechs and other nonbanks that are accounting for more and more of the business.
Block’s quarterly earnings miss, but it projects a strong future
The payment and commerce company’s stock fell as much as 12% in afterhours trading on Thursday after the fintech missed Wall Street’s earnings estimates, despite posting growth in all lines of business and increasing its full year guidance.
Waller hedges on nonbank access to ‘skinny’ master account
Federal Reserve Gov. Christopher Waller said there was a popular “misunderstanding” Thursday regarding who can qualify for a “skinny” master account, noting that only firms with a bank charter would qualify for approval.
Chime raises revenue forecast after Q3 earnings report
The digital neobank is expecting spending to stay strong through current economic conditions, and a new credit card is projected to bring in increased revenue.