Revolut wins US charter with limits on four products
The agency approved a full-service national bank but gated four product lines behind separate sign-offs, a condition advisors say is unlike other approvals.
Kansas community bank says merger will enable big Iowa push
Equity Bancshares in Wichita, Kansas, had been looking for a way to establish a significant Iowa presence. By acquiring Lincoln Bancorp, which has 16 branches in the state, it’s found a way in.
M&T upgrades as banks seek closer ties to corporate clients
The institution is among the first users of an embedded banking platform from FIS that places financial services and payments inside of the business software.
Managed accounts linked to higher retirement savings rates: Morningstar
Managed accounts are associated with higher employee contributions in defined-contribution retirement plans, the research firm found. Advisors working on employer plans might want to take note.
Colorado AG takes on EWA provider EarnIn
Colorado’s Attorney General Phil Weiser is suing direct-to-consumer earned wage access provider EarnIn, alleging that the company violated the state’s lending laws and challenging its claim that its product is nonrecourse. It is a sign of regulators’ continued interest in EWA.
GSE changes, Boxabl pact spur mortgage lending opportunities
Developments at Freddie Mac, Fannie Mae and factory-built housing innovator Boxabl point to some expanded ways to make mortgages or HELOCs.
Trump signs bill funding the government through December
President Donald Trump Wednesday signed a continuing resolution to fund the government through December, averting a government shutdown at least until after November’s elections.
CFTC asks judge to toss CME challenge to Kalshi perps
The Commodity Futures Trading Commission asked a federal court to drop a suit filed by the Chicago Mercantile Exchange challenging the agency’s decision to let Kalshi offer bitcoin perpetual futures contracts, known as perps.
Fed’s Waller: underlying inflation might be lower than we think
The Federal Reserve governor said an upcoming change to the Personal Consumption Expenditures index could show ongoing improvement in prices, building the case for leaving interest rates unchanged.
TabaPay is seeking to buy a community bank for its charter
The instant payments company announced a $155 million fundraise and has filed to acquire Transact Bank, which it wants to convert into TabaPay Bank.