Technology
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Kraken decries crypto de-banking amid Metro Bank ban
Metro is one of several U.K. lenders to impose a bar or limit on deposits into crypto exchanges. A Metro Bank spokesperson says the thrust is to curb fraud.
By Gabrielle Saulsbery • Dec. 19, 2024 -
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Flagstar fined $3.5M for ‘misleading’ after 2021 cyberattack
The bank “negligently made” materially misleading statements after a hack that resulted in the theft of 1.5 million customers’ personally identifying information.
By Gabrielle Saulsbery • Dec. 19, 2024 -
Explore the Trendline➔
Permission granted by O’Malley Hansen Communications
TrendlineCustomer service
Banks and fintechs have a choice when looking to grow: Identify a new customer segment and expand services, or drill down and better serve the clients they have.
By Banking Dive staff -
TU IS
Tokenized securities firm Prometheum raises $20M
Co-CEO Aaron Kaplan plans to use the funds to launch trading services, and to provide a venue for financial institutions and investment firms to offer investors tokenized securities.
By Gabrielle Saulsbery • Dec. 18, 2024 -
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TrackerA running list of BaaS banks hit with consent orders in 2024
Regulators have taken a harder look at bank-fintech partnerships. Experts said the orders highlight gaps in due diligence and monitoring related to third-party partners.
Dec. 18, 2024 -
Courtesy of Ally Financial
Ally CEO indicates card business not a core focus
“In a world of limited capital and limited expenses,” the bank’s next dollar is “not going to go there, despite the fact that it’s a very strong business,” Michael Rhodes said of Ally’s card unit.
By Caitlin Mullen • Dec. 13, 2024 -
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Gen Digital to acquire MoneyLion in $1B deal
Gen, the global parent firm of cyber safety brands Norton and Avast, will pay $82 per share in cash to add the consumer finance fintech to its roster.
By Rajashree Chakravarty • Dec. 11, 2024 -
Courtesy of Coinbase
FDIC letters give credence to ‘Choke Point 2.0’ claims: Coinbase CLO
The agency asked nearly two dozen banks to pause crypto-related activity in 2022, according to letters unveiled via Coinbase’s FOIA requests.
By Gabrielle Saulsbery • Dec. 11, 2024 -
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Citi CFO: Evolving data standards make upgrade more complex
Mark Mason, the bank’s finance chief, also said the focus on the need to improve data tied to regulatory reporting isn’t unique to Citi.
By Caitlin Mullen • Dec. 10, 2024 -
Kate Tornone/Banking Dive
Citizens tweaks features, eyeing primacy for customers
Recent upgrades to the super-regional’s digital experience are aimed at fueling primacy with clients, a Citizens executive said, as banks vie to be their customers’ No. 1.
By Caitlin Mullen • Dec. 6, 2024 -
Michael M. Santiago / Staff via Getty Images
ColumnDive Deposits: Citi begins December with a data dump
The bank’s split of Mexican operations was just the beginning. There were also 344 promotions to managing director, a high-profile exit, an AI rollout and a block-trade stumble.
By Dan Ennis • Dec. 6, 2024 -
Celsius founder Mashinsky pleads guilty to fraud
His two-count guilty plea could send the 59-year-old to prison for 30 years.
By Gabrielle Saulsbery • Dec. 4, 2024 -
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Thread Bank CEO anticipates more ‘reasonable’ regulatory environment under Trump
The lender – hit with an FDIC consent order this year – has tried to ensure its house “can withstand the storm,” rather than simply “being mad at the weather,” CEO Chris Black said.
By Caitlin Mullen • Dec. 4, 2024 -
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Trump taps crypto lobbyist to lead SEC
Trump’s nominee, Paul Atkins, served as a commissioner at the SEC under former President George W. Bush.
By Alexei Alexis • Dec. 4, 2024 -
Matt Winkelmeyer / Staff via Getty Images
Crypto leaders have knives out for attorneys leaving the SEC
Coinbase and Ripple executives want law firms not to hire lawyers who worked on lawsuits against them.
By Robert Freedman • Dec. 4, 2024 -
Permission granted by Fifth Third Bank
Fifth Third uses heat mapping to plot where to put new branches
A tool to analyze existing retailers, competitor presence, local income and cell phone data is helping the super-regional place 200 added locations by 2028.
By Gabrielle Saulsbery • Dec. 4, 2024 -
Cecilie Arcurs via Getty Images
Q&AWorldpay exec talks digital wallet security
The head of fraud prevention for the processor said the company leverages data to block hackers and fraudsters seeking digital wallet information.
By Patrick Cooley • Dec. 3, 2024 -
Joe Raedle / Staff via Getty Images
Capital One report finds data disconnect between IT, business leaders
Most executives are confident in their organization’s data capabilities. Technical practitioners aren’t so sure.
By Matt Ashare • Dec. 2, 2024 -
AVNphotolab via Getty Images
Synapse partner banks hit with lawsuit over fund mismanagement
The four banks – Evolve, AMG National Trust, American Bank and Lineage – were sued Friday, after thousands of consumers were left without access to their funds post-Synapse collapse.
By Rajashree Chakravarty • Nov. 27, 2024 -
Courtesy of Affirm
BNPL use may rise this year for holiday shopping
With credit card interest rates at a historic high, consumers are likely to gravitate to lower-cost alternatives, including potentially buy now, pay later options, industry consultants say.
By Patrick Cooley • Nov. 27, 2024 -
TenleyThompson via Getty Images
Custodia takes a step back ahead of Trump term
The Wyoming bank, long embattled with the Federal Reserve, aimed to “preserve capital” and its charter before the White House takes a presumably more crypto-positive tone.
By Dan Ennis • Nov. 26, 2024 -
Courtesy of U.S. Bank
U.S. Bank bets on capital markets boost
The super-regional is expanding its product set and angling for a more prominent position with its clients, the bank’s head of wealth, corporate, commercial and institutional banking said.
By Caitlin Mullen • Nov. 26, 2024 -
shutterstock.com/Andrii Yalanskyi
Sponsored by EncaptureThe countdown to 1071: Why automation is a must-have for banks
Upcoming rules demand action — banks must act now. Learn why automation is key for compliance.
By Brynna Desantiago, Head of Marketing at Encapture • Nov. 25, 2024 -
Matt Cardy via Getty Images
HSBC hires Citi vet to lead ex-SVB unit
Emily Turner, a 13-year veteran at Citi, will become the CEO of the HSBC Innovation Banking UK unit, starting in February.
By Rajashree Chakravarty • Nov. 21, 2024 -
Justin Sullivan via Getty Images
Deep DivePayPal CEO pushes beyond payments
After a year as CEO of the digital payments pioneer, Alex Chriss is spearheading an expanded role in commerce for the company.
By Lynne Marek • Nov. 20, 2024 -
Spencer Platt / Staff via Getty Images
Robinhood buys wealth management platform TradePMR
Ahead of what’s projected to be the largest wealth transfer in history, Robinhood is bringing financial advisers directly to its 24 million customers.
By Gabrielle Saulsbery • Nov. 20, 2024
