Huntington, Live Oak to invest in, deploy gen AI-based lending
Both banks are preparing rollouts of Casca’s software and participated in the firm’s $29 million funding round.
Feds still chasing billions in PPP fraud
The pandemic-era program yielded over $60 billion in fraudulent payments, with prosecutions expected for another five years.
U.S. Bank’s former AI chief accuses bank of discrimination
Srini Nallasivan, who was born in India, claims in a lawsuit that the Minneapolis-based bank harassed and fired him in order to replace him with a white executive. U.S. Bank denies the accusations.
Fannie, Freddie’s stress test losses ease from 2024
The tests modeled how Fannie Mae and Freddie Mac would fare after absorbing losses like a total $36.1 billion provision in credit losses in a severe downturn.
OMB documents show CDFI Fund isn’t disbursing new funds
The Office of Management and Budget under President Donald Trump has not apportioned any discretionary awards to financial institutions in the fiscal year of 2025, according to new documents released by the agency.
Brex’s global payments get a regulatory win in the EU
Brex’s second license in the European Union is a key step in cementing turning payment relationships in the EU into broader financial relationships, including card issuing and cross-selling.
Treasury seeks stablecoin AML comment from public
The Treasury Department issued a request for comment Monday, seeking input on four categories of technology that could be used to detect and combat illicit financial activity in crypto assets.
BNPL providers ask for extension to NYDFS request for information deadline
The American Fintech Council has requested a 30-day extension for buy now, pay later providers to submit information about their businesses to the New York Department of Financial Services. New York is the first state to institute a law specifically regulating BNPL.
How much control do banks have over access to their customers’ data?
Banks want to reclaim their position as the central node in the customer relationship by charging fintechs and data aggregators for access to permissioned customer data. How the legal questions about this are resolved will be a telling moment for all concerned.
The best credit unions to work for in 2025
Looking for a job at a credit union? Here are the 68 best ones to be employed by, according to the professionals who work there.