Nubank’s quarterly income hits $1 billion for the first time
The world’s largest neobank had a strong quarter as it prepares to launch a bank in the U.S.
What Citi gets from its Kard acquisition
Citi’s pending purchase of the rewards fintech is a pivot in the way the $2.9 trillion-asset bank thinks about its points program and comes at a time when interchange is under fire.
Fincen data shows how banks spot human smuggling
Depository institutions filed about 3% of the suspicious activity reports Fincen counted but accounted for 61% of the dollars — roughly $3 billion.
BNY elects McKinsey partner Malhotra to join board
Vikram “Vik” Malhotra joins the Bank of New York Mellon’s board of directors from McKinsey, Bank of America will acquire up to a 49.9% joint-venture stake in Jio Credit Limited, JPMorganChase terminates its banking relationship with Polymarket over regulatory concerns, and more in this week’s banking news roundup.
Markets eye Fed hold after retail sales, consumer confidence fall
Retail sales fell 0.6% in July despite a World Cup bump and the University of Michigan’s consumer sentiment index declined to cap off a pivotal week of economic indicators.
CFPB’s open-banking plan likely to ignite new legal battle
Experts predict that either banks or fintechs will sue the Consumer Financial Protection Bureau, depending on the details of the fee structure in its forthcoming open-banking rule.
CFPB will no longer publish consumer complaint narratives
The Consumer Financial Protection Bureau said it will stop publishing consumer complaint narratives, citing concern that the information is one-sided.
Want ChatGPT to find your RIA? You may be overlooking your best tool
Web designer Bonfire Studio asked ChatGPT for advisor recommendations in five metro markets. The results give advisors more reason to tend to their online presence.
Women are inheriting trillions. How advisors can win their business
Women are projected to receive more than $100 trillion in the so-called great wealth transfer. But their planning needs can differ from men’s.
The Home Loan banks may be facing stormy weather in 2027
In a contentious hearing in the House Financial Services Committee, congressional Democrats evinced serious skepticism about the Federal Home Loan Bank System. That could bode ill for the Home Loan banks should control of the House flip in November.