What a Chime IPO would mean for banks and fintechs
As a public company, the neobank would have the capital support to keep growing quickly. It would also have to rein in costs and show a profit.
Umpqua pushes into winery banking during industry’s crunch
First Republic’s failure last year left its wine bankers available for poaching. The group joined Umpqua Bank, whose expansion in the wine business comes at a tricky time for the industry.
PayPal’s solution for AI scalability? Partners
As the company bolsters artificial intelligence-powered point of sale and battles other fintechs and the card networks, getting a boost with distribution has become a major priority.
Following acceptance of blame, lawmakers impressed by CrowdStrike’s ‘humility’
House Republicans grilled a company exec about its widespread outage, but some, including Mark Green, R-Tenn., thanked the company for its response.
Cookie credit sweetens Utah bank’s strong loan growth
A recent deal with a gourmet cookie franchise highlights the business that Ogden-based TAB Bank has built lending to companies other banks shy away from.
Home Loan Banks must look at members’ finances, not just collateral: FHFA
The Federal Housing Finance Agency issued guidance to ensure the Federal Home Loan Banks are lending based on the credit worthiness of the member bank, not solely on the quality of the collateral.
Investor group ups Territorial offer; Lightspeed Commerce seeks buyer
Blue Hill Advisors and former Bank of Hawaii CEO Landon up their per-share cash offer to buy Territorial Bancorp; Montreal-based payments firm Lightspeed Commerce puts itself on the market; Societe Generale hires ex-UBS banker Jansen as the bank’s West Coast co-head; and more in this week’s banking news roundup.
Why banks are siding with the Fed in Custodia master account suit
Top banking trades have thrown their support behind the central bank’s argument that it has discretion over access to its payments systems. Custodia is seeking to appeal a lower court ruling that affirmed that discretion.
Press Release: FDIC Makes Public August Enforcement Actions; No Administrative Hearing Scheduled for October 2024
PRESS RELEASE | SEPTEMBER 27, 2024 FDIC MAKES PUBLIC AUGUST ENFORCEMENT ACTIONS; NO ADMINISTRATIVE HEARING SCHEDULED FOR OCTOBER 2024 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in August 2024. There is one administrative hearing scheduled for October 2024. The […]
Facts, not bias, should determine the FDIC’s brokered deposit rule
The Federal Deposit Insurance Corp.’s proposed rule on brokered deposits would be a step backwards for the agency and the industry it regulates.