Fintech Chime submits confidential filing for IPO
The challenger bank aims to go public in 2025, according to people familiar with the matter.
First Commonwealth to acquire CenterGroup in Cincinnati
The Pennsylvania-based buyer said it would pick up nearly $350 million of assets and a commercial-focused loan portfolio as part of the $54.6 million deal.
What fintechs and banks are doing differently post Synapse’s collapse
Fintechs and their partner banks are keen to hold the industry to high standards of regulatory compliance in the interests of everyone’s reputation.
Trump ‘uncertainty’ contributes to hawkish shift at Fed
The Federal Reserve lowered its policy rate but signaled a more “cautious” approach to future cuts in light of higher inflation expectations. Policy uncertainty was one of several contributing factors to that change in forecast.
Blue Chip Companies Are Ditching ESG Terms From Their Loans
Companies are dropping sustainability-linked loans as they face a tougher regulatory environment.
SouthState’s $2B bank deal, the year’s largest, clears key hurdles
The Federal Reserve and OCC approved the company’s plan to buy Independent Bank Group in Texas, putting the deal on track to close early next year as expected. In an atmosphere of M&A delays for banks, the deal is on a relatively smooth path.
OCC issues another ‘comprehensive’ order against USAA
The Office of the Comptroller of the Currency issued a “comprehensive” cease-and-desist order against the beleaguered bank blocking new product offerings or expanding membership because of compliance and risk management issues.
Big banks push global B2B payments
Morgan Stanley and ABN Amro tapped fintechs to improve cross-border transactions. That and a U.K. card fee cap highlight this week’s roundup of payments news.
The Best of American Banker Magazine for 2024
This year, American Banker reporters dove deep into topics such as gambling addiction, Citigroup’s rebuild, the Small Business Administration, fraud, and monetary policy for its feature articles. Check out the most consequential articles of the year.
20 states with the highest rates of unbanked residents
When combined, the top five states have roughly 23.9 million households classified as unbanked according to the Federal Deposit Insurance Corp.