Florida credit union to acquire third bank in five years
The Sunshine State deal comes following a banner year for credit union-bank combinations, despite pushback from community banking advocates.
How payment leaders can use cash-flow insights to boost lending
The growth of digital payments, coupled with the U.S.’s new open banking framework, may finally move the needle for an alternative form of credit decisioning.
IMF cuts U.S. growth forecasts, warns of stability risks
The International Monetary Fund lowered its economic growth projections for 2025, citing policy uncertainty. It also urged central banks to stand ready to use macroprudential tools to facilitate lending in a potential recession.
House Democrats question Bessent over CDFI contradictions
House Financial Services Committee ranking member Maxine Waters, D-Calif., led a group of Democrats in challenging Treasury Secretary Scott Bessent over the current state of the Community Development Financial Institutions Fund.
Ending the separation of banking and commerce myth
As the user experience becomes fundamentally more digital, the separation of banking and commerce washes out. It all starts to look like data processing.
Arca, Tassat, tZERO lead joint creation of tokenized Treasury fund
The group, along with partners Avalanche, B2C2, Galaxy Digital, U.S. Bank and Wintermute created Lynq, a real-time, yield-bearing settlement network.
Synchrony’s purchase volume, loan receivables fall in Q1
The credit card company’s net income and earnings per share surpassed Wall Street’s estimates, after a year of policy confusion over credit card late fees.
Why it’s hard to marry card and payment tech
Global Payments’ agreement to divest its issuer unit is the latest in a series of changes in a complex ownership strategy.
Virginia community bank announces its exit from BaaS
MainStreet Bancshares in Fairfax has closed its banking-as-a-service subsidiary after the unit fell far short of meeting its revenue and deposit targets.
FDIC cutting 1,250 staffers across ‘most’ departments
The agency is offering buyouts and early retirement incentives for employees, with layoffs possible if targets aren’t met, as part of the Trump administration’s overall downsizing of the federal government.