OCC says banks limited ties to controversial sectors
Pornographers, private-prison operators and digital-asset firms were among the industries that major banks curbed ties with over moral or reputational concerns, according to the Office of the Comptroller of the Currency’s preliminary findings in its “debanking” probe launched earlier this year.
Fifth Third stakes claim in agentic payments with Brex
Brex is powering Fifth Third’s commercial card issuance in a move that boosts the fintech’s distribution network and provides the bank with a more competitive commercial card proposition.
Regulators need to provide banks with clarity around AI adoption
Banks are struggling to integrate artificial intelligence into their operations, and one of the major stumbling blocks is regulatory uncertainty. Supervisors need to set clear rules of the road as soon as possible.
Exclusive: Bipartisan bill would boost SEC small business info collection
A new bill from Sens. Katie Britt, R-Ala., and Catherine Cortez Masto, D-Nev., would streamline the Securities and Exchange Commission’s small business surveys, which the agency uses to consider the needs of small businesses in rulemakings.
Sallie Mae’s subdued earnings forecast puzzles investors
The student lending giant offered forecasts of future earnings that were far below Wall Street’s expectations. In recent months, Sallie Mae has been upbeat about the new opportunities it sees under the Trump administration.
As NMI enters embedded lending, it faces a crowded market
PayPal and other fintechs already offer small business loans based on future payment flows, creating a competitive market.
North Carolina credit union sues Fiserv over ‘insecure’ systems
The lawsuit alleges the fintech giant secured its own corporate data with strong MFA while leaving client systems vulnerable to compromise.
DOJ says CFPB’s preliminary injunction cannot be modified
A federal court cannot modify a preliminary injunction to compel the acting director of the Consumer Financial Protection Bureau to request funding for the agency, the Department of Justice said.
Beal-owned Monet Bank pivots towards digital assets
The Texas-based community bank is turning itself into a “digital asset financial institution” as the Trump administration pushes crypto-friendly policy and other banks make their bids.
Key shuns M&A, lauds buybacks after activist investor callout
KeyCorp CEO Chris Gorman said Tuesday that the bank has doubled its buyback plans for the fourth quarter and laid out a new long-term profitability target. The comments came a few days after HoldCo Asset Management issued a scathing report about the bank’s performance.