VantageScore debuts model that can consider bank account data
The VantageScore 4plus product pulls in standard credit file information while also analyzing bank account balance and other transactional data to create an adjusted score
FDIC’s Gruenberg: ‘I want to acknowledge my own failures as chairman’
Federal Deposit Insurance Corp. Chairman apologized for his management and temper at a House Financial Services Committee hearing that focused on his handling of the agency in the immediate aftermath of a workplace behavior report outlining serious misconduct that prevailed for years.
Innovators of the Year 2024
These 20 bankers and fintech executives are helping banks go digital in new ways.
The Lummis-Gillibrand stablecoin bill is misguided and dangerous
The bill, which would allow uninsured trust companies to issue stablecoins, represents a perilous departure from historically sound financial regulatory policies, and would open the door to potentially catastrophic market disruptions.
Most Influential Women in Fintech 2024
The publication selected 20 women who have shown strong leadership and communication skills.
American Express expands in U.K., Western Union returns to Cuba
Amex is working with Worldpay to reach businesses in the U.K., Western Union has resumed remittances to Cuba after shutting down that corridor in 2020, and more.
Dave Fishwick of ‘Bank of Dave,’ has a new nemesis: Payday lenders
The real-life British banker behind the hit Netflix movie ‘Bank of Dave,’ talked with American Banker about the sequel due out next year and why opening more local community banks are so important.
Kabbage, a bankrupt fintech lender, settles PPP fraud case with DOJ
The small business lender’s bankrupt shell has agreed to pay up to $120 million in connection with allegations that its verification processes for Paycheck Protection Program loan applications were faulty. The government argued that Kabbage reaped larger fees by enabling fraudulently inflated loans.
How a Minnesota bank is jumping into the earned wage access market
Stearns Bank in Saint Cloud is working with the on-demand payment technology firm Reset to launch an earned-wage card for blue collar and immigrant families struggling with access to money.
CDFIs are steadily becoming a bigger cog in the financial system
Community Financial Development Institutions’ mission-driven lending has traditionally been a small segment of the lending market. That’s beginning to change, but plugging into secondary lending markets might not be the kind of change communities need.