Community bank bill moves forward, but with some caveats
The House Financial Services Committee passed a community bank tailoring bill 33-21.
Affirm applies for a banking charter
The buy now, pay later lender is seeking to create Affirm Bank, a Nevada-chartered industrial loan company.
ILCs rankle banks, but other priorities mute opposition
The Federal Deposit Insurance Corp.’s approval of Industrial Loan Company charter applications for General Motors and Ford Motor Company generated only moderate pushback from banks as crypto, debanking and credit card rate caps dominate the industry’s attention.
Banks see MSR strain despite strong top-line results
Many servicing metrics look weaker amid lower rates although valuations can vary depending on companies’ models, operations and portfolio composition.
Wells Fargo faces amended class action loan-mod complaint
Mortgage borrowers filed a third amended class action complaint against the bank over modification issues from 2010 to 2015.
Asset servicing gains new importance in an increasingly digital world
Once seen as a sleepy corner of the financial services industry, asset servicing has become increasingly important for banks as artificial intelligence, blockchains and a generational transfer of wealth alter the landscape.
Banco Inter gets Fed approval for U.S. digital branch
The Brazilian digital bank Banco Inter now has a license from the Federal Reserve Board and the state of Florida to establish a virtual “branch” in Miami.
Oportun CEO Vazquez to step down after investor pressure
Shares of the California lender surged 25% on news of the leadership change and preliminary fourth-quarter earnings.
Capital One to acquire payments fintech Brex in $5B deal
The McLean, Virginia-based bank plans to close the deal in mid-2026, about a year after it sealed its landmark purchase of Discover Financial Services.
Fresh off merger, Pinnacle plans to keep hiring bankers
Three weeks after completing its “merger of equals” with Synovus Financial, Pinnacle Financial Partners said it plans to hire 225 to 250 revenue-generating bankers in 2026 across its newly expanded Southeast footprint.