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.
By firing Democrats, Trump takes NCUA into legal gray area
The National Credit Union Administration insists it can still function with one board member, but legal experts and industry groups say any substantive regulatory actions could face serious challenges.
Synapse bankruptcy court orders Evolve Bank examination
Fund That Flip, a former Synapse customer that says its customers are owed $243,861, won the right to demand answers and documents from Evolve.
Comerica reduces 2025 guidance, may scale back investments
The Dallas-based regional bank doesn’t plan to halt in-progress investments, but it may adjust the pace of spending this year, depending on which way the economy goes. It also made downward revisions to its outlook for average loans, net interest income, fee income and expenses.
Want jobs growth? Then loosen the reins on banks in the US
An administration willing to rethink longstanding regulatory norms could implement targeted reforms that unlock the potential for increased investment, innovation and job creation across the country.