Newtek hopes to cap bank conversion with zero-fee checking account
The Boca Raton, Florida company is seeking to attract deposits with a product that more closely resembles the strategy many fintechs typically employ.
Musk calls for abolishing consumer agency GOP has long targeted
“Delete CFPB. There are too many duplicative regulatory agencies,” Musk wrote in a post on X.
USAA missteps, CFPB’s last hurrah: Top banking news November 2024
November’s roundup includes consumer doubts plaguing the reputation of USAA, reviews of the Consumer Financial Protection Bureau’s actions and more.
U.S. Bank shakes up leadership; BNPL gets a boost for the holidays
Buy now/pay later firms launched new products and announced new operational strategies this week as they prepare for an expected increase in demand this holiday shopping season, while Revolut’s CEO laid out plans for 2025.
Climate First Bank’s Ken LaRoe is still bullish on climate tech
The founder of a bank whose mission is to reduce atmospheric carbon dioxide is undaunted by the prospect of a more fossil-friendly Trump administration.
Chase and other megabanks aren’t — and never will be — community banks
“Too big to fail” banking giants like to masquerade as community banks when it suits their purposes, but they will never be able to replace real, local bankers with deep ties to their customers.
Mountain America exiting New Mexico with branch deal
The Sandy, Utah-based credit union said it opted to part with its two New Mexico branches to focus on other geographies. At least one expert expects an uptick in branch sales as more credit unions seek to “right-size” their networks.
Bank regulators have concepts of a plan to deal with AI
In a string of speeches last week, the top federal banking regulators outlined goals and framed their thinking about artificial intelligence in financial services, but the biggest questions around liability and widespread adoption remain unanswered.
It’s a small world: Why payment companies are targeting SMBs
Micro-, small- and medium-sized businesses have traditionally been a tough nut to crack when it comes to serving up actionable insights. Payment data is helping to change that.
Why community banks are struggling to expand loan portfolios
Median growth among small U.S. lenders was 1.2% for the third quarter. Bankers are hoping lower interest rates will boost demand, but borrowers aren’t jumping.