Klarna gets a jolt from its payment card
The neobank put its multi-use card in the hands of even more consumers in the first quarter, reaching 5 million users. That has resulted in increased membership fees and average revenue per consumer compared with non-card-wielding customers.
FDIC clears way for Stellantis ILC charter
The Federal Deposit Insurance Corp. waived through the Jeep, Ram, Dodge and Chrysler manufacturer’s application to conduct banking activities. While banks have opposed ILCs in the past, other charters pose more pressing competitive threats at the moment.
Foreclosure filings up 18% from a year ago
Foreclosure filings were reported on 42,430 properties in the United States last month, down 8% from the month prior but up 18% from a year ago.
Press Release: FDIC Releases Public Sections of Informational Filings for Six Insured Depository Institutions
PRESS RELEASE | MAY 14, 2026 FDIC Releases Public Sections of Informational Filings for Six Insured Depository Institutions WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) today released the public sections of informational filings for six large insured depository institutions (IDIs). The FDIC’s regulations require certain covered IDIs to submit informational filings every three years. These informational […]
Scott denies vote on bank-favored fix on yield
Senate Banking Committee Chairman Tim Scott, R-S.C., flatly denied multiple pleas from Democrats to consider their amendment to a crypto market structure bill being marked up in the committee Thursday that would make banking industry-favored changes to the yield provision. The committee passed the measure in a 15-9 vote.
What BBVA and Goldman Sachs get from their new bet on OpenAI
The two banks are among the large firms that are pouring $4 billion into DeployCo, a large-scale enterprise artificial intelligence venture born out of OpenAI’s acquisition of AI consultant Tomoro. Payment technology experts say the deal gives the banks improved access to development expertise as new forms of AI penetrate all aspects of banking.
House drops institutional investor ban from housing bill
House lawmakers scrapped a ban on big-money investors from purchasing single-family homes, opting for a path that clears the bill’s legislative hurdles.
Press Release: FDIC Approves the Deposit Insurance Application for Stellantis Bank USA, Salt Lake City, Utah
PRESS RELEASE | MAY 14, 2026 FDIC Approves the Deposit Insurance Application for Stellantis Bank USA, Salt Lake City, Utah WASHINGTON—The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) approved a deposit insurance application submitted by Stellantis Financial Services U.S. Corporation to establish Stellantis Bank USA, which will be a Utah-chartered industrial bank. […]
FDIC: Big depositors drove run risk in 2023
A report from the Federal Deposit Insurance Corp. found that business clients with large volumes of uninsured deposits fled Silicon Valley Bank, Signature Bank and First Republic at unprecedented speed, contributing to those banks’ collapse.
Press Release: FDIC Releases Staff Study of Deposit Flows at Three Failed Banks in Spring 2023
PRESS RELEASE | MAY 14, 2026 FDIC Releases Staff Study of Deposit Flows at Three Failed Banks in Spring 2023 Study focuses on depositor flight at Silicon Valley Bank, Signature Bank, and First Republic Bank WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) today released “Dissecting Depositor Flight: An Analysis of the Spring 2023 Bank Failures,” […]