Klarna lays out neobank aspirations
In the company’s first earnings report since going public, CEO Sebastian Siemiatkowski offered what analysts called a conservative Q4 outlook while laying out its growth plans that included an expanded distribution network, increasing its long-term installment loan penetration with merchants and becoming a full-fledged neobank.
OCC allows banks to hold crypto to cover blockchain fees
The Office of the Comptroller of the Currency issued an interpretive letter Tuesday that would allow banks under its jurisdiction to hold small amounts of network tokens to test and process customer transactions.
Fed memo previews big changes to bank oversight
An October staff memo from the Federal Reserve’s Division of Supervision and Regulation outlines changes to how supervisory activities will be carried out, including a greater emphasis on relying on examinations conducted by state banking supervisors.
Treasury’s McKernan sees sea change in deposit behavior
Treasury Under Secretary for Domestic Finance Jonathan McKernan said he is concerned that the traditional bank funding model of taking in low-cost deposits and making more lucrative loans could be set for a shakeup as fintech challengers get more competitive.
Stablecoins renew the age-old battle over the purpose of money
The rise of stablecoins is once again raising questions about the purpose of money, should it be regulated as a public good facilitating commerce, or a private claim to a specific asset?
Comerica said no to Regions before Fifth Third deal: Sources
An activist investor is seeking more information on how, and when, the largest bank deal of 2025 came together.
Waller backs 25 bps ‘risk management’ rate cut in December
Federal Reserve Gov. Christopher Waller said in a speech Monday that private and public-sector data suggests that the labor market is continuing to weaken, making a 25 basis point rate cut in December a prudent choice.
Freddie Mac adds mortgage quality control automation tool
Quality Control Advisor Plus is an integrated system which brings together previously separate units, cutting months off of Freddie Mac’s current QC process.
Bank of America launches new app for retirement withdrawals
The country’s second-largest bank has unveiled a digital platform for retirement decisions — not on how to save, but how to disburse those savings in a steady, sustainable way.
Digital asset firm LevelField closer to buying Burling Bank
The financial services firm based in Houston tried to buy a Chicago community bank three years ago as part of a plan to offer traditional banking and digital asset services on one platform. With Illinois state approval secured, it now awaits a decision from the Fed.