Stablecoin payment plays accelerate as 2024 closes
Ripple, MoneyGram and FV Bank all bolstered their ability to distribute digital assets, with cross-border transactions emerging as a primary use case.
Where the Fed’s Michael Barr goes from here
Known as a pragmatic moderate before arriving at the Fed, Vice Chair for Supervision Michael Barr is now synonymous with an aggressive and divisive approach to bank regulation. Can he still accomplish his goals under President Trump?
Flushing Financial’s $70 million capital raise prompts sell-off in shares
The Long Island bank is the latest financial institution to use new equity to restructure its balance sheet and unload low-yielding assets. Its stock price tumbled after the shares were priced at a considerable discount.
BNPL lender Affirm inks fresh forward-flow deal with Sixth Street
Affirm partners with Sixth Street to sell its buy now/pay later loans to the investment firm; Associated Banc-Corp promotes Steven Zandpour to deputy head of consumer and business banking; Visa Direct speeds up its money transfers; and more in this week’s banking news roundup.
Conservative court’s ruling is an omen about DEI under Trump
Banks will feel the fallout from a court’s decision to strike down a Nasdaq rule that would have mandated more disclosure about the racial and gender composition of corporate boards.
Upbound acquires Brigit, expanding financial solutions platform
Upbound currently focuses on lease-to-own products. Brigit will help it expand its offerings, but the fintech faced an FTC complaint last year.
Trump wants to streamline bank regulation. Here’s how he should do it.
We should consolidate federal oversight of the banking industry within the Office of the Comptroller of the Currency. It would rationalize a system that has grown increasingly unwieldy over generations.
Dime in NY takes $43 million hit to unload underperforming securities
The bank said it redeployed proceeds from the sale into high-yielding investments. It also said it would end an employee pension plan to curb expenses.
Carver directors win re-election after controversial vote
A close result was complicated by an hour-long adjournment of the New York-based company’s annual meeting that angered dissident investors and left them mulling legal action.
Elder abuse, AI deepfakes and TikToks: 2024’s fraud trends
From mail theft to video games, a variety of trends shaped scams and fraud in 2024 — and made the schemes more expensive for everyone.