Will banks get in on the prediction market gold rush?
The burgeoning predictions market is gaining users and volume rapidly and is being largely embraced by the Trump administration. But banks are torn between the promise of new revenue streams and the iffy legal foundations of the new market.
Climate First secures $67 million in latest funding round
The bank’s first institutional fundraising round brought its total funding to $222 million.
Pagaya accuses Klarna of stealing subprime lending model
The AI-powered fintech accused the neobank and buy now, pay later lender of misappropriating its trade secrets and breaching its license and loan sale agreements.
FDIC’s Hill proposes fundamental resolution-planning reform
Chair Travis Hill wants to shift resolution planning away from lengthy bank-generated narratives and toward rapid access to critical operational data during failures.
Huntington reports strong returns from its Texas strategy
Senior executives at the Ohio regional bank say cost savings and revenue synergies from a pair of recent Texas deals could top $500 million.
Adyen scanned $1.6 trillion for fraud. Here’s what it found.
The Dutch payment processor says that overall declines in payments crime obscure a broader danger as the threat migrates to hard-to-spot consumer uses and AI.
HFSC Chair Hill optimistic about crypto bill’s passage
House Financial Services Committee Chair French Hill, R-Ark., said he is optimistic that his Senate counterparts will develop compromise language for a crypto market structure bill that President Donald Trump will sign, though some details may be left to regulators to iron out.
Lenders aren’t extending their credit offerings this spring
Originators slightly loosened credit for conventional and jumbo products in May but they’ve held steady after larger growth to begin the year.
Second-lien warehouse facility availability hits 2-year high
The share of warehouse lenders offering funding lines and sublimits for seconds has risen to new heights according to a Mortgage Bankers Association survey.
Convicted FTX founder Bankman-Fried asks for Trump pardon
The former crypto wunderkid added a presidential-pardon application to the long list of attempts to get his sentence reduced.