Utah bank eyes changes to boost fintech partnership growth
Finwise Bancorp believes a new plan to hold more of the fintech loans it originates on its balance sheet will boost profits in 2025.
Small-business fintech Mercury, bank partner Evolve split
Mercury said it simply outgrew the relationship. Evolve said it’s kicking high-risk end users out of its program and as a consequence some fintechs are going elsewhere.
A new ‘introductory’ card boosts competition for banks
GetAugie targets consumers new to credit, undercutting mainstream banks’ secured cards that often charge an annual fee and carry hefty annual percentage rates.
Judge pauses firings at CFPB, FDIC, Treasury
A Maryland judge temporarily halted mass layoffs of probationary employees at multiple agencies, citing legal violations and harm to states’ ability to respond to unemployment needs.
Retired bank president joins First National as finance chief
Retired banker Brad Schwartz is set to join First National as finance chief; Bar Harbor Bankshares agrees to acquire Guaranty Bancorp; CDFI Friendly America reveals new data on lending; and more in this week’s banking news roundup.
Latin American fintech Prometeo launches ‘borderless banking’
Prometeo aims to make business-to-business payments and remittances between the U.S. and Latin America easier and cheaper.
Court rejects Baltimore’s bid to block CFPB funding cuts
A federal judge in Maryland ruled against the City of Baltimore’s attempt to block cuts to Consumer Financial Protection Bureau program funding on procedural grounds.
Trump’s tariffs roil bank stocks, but lenders stay calm
Bankers’ surveys of commercial clients have found that corporate decision-makers are less concerned about adverse tariff effects than nervous investors. The hope is that the president’s levies prove to be short-lived trade negotiation tactics.
The new administration should reset federal consumer protection rules
The first task for a new director of the Consumer Financial Protection Bureau should be sweeping away the clutter of ill-considered lawsuits and regulatory pronouncements left over from the Biden years.
TD, Flagstar are closing dozens of U.S. branches
Thirty-eight TD Bank locations and 24 Flagstar branches are set to shut down. Both banks are coming out of tumultuous periods.