A look at Week 4 of the Sam Bankman-Fried trial

Bankman-Fried admitted that FTX didn't turn out how he expected: "A lot of people got hurt," he said. But he said he didn't defraud anyone.

By Gabrielle Saulsbery • Oct. 27, 2023

On the stand, Bankman-Fried blames FTX counsel

The founder of the collapsed crypto exchange said his use of funds at the core of fraud charges against him was cleared by lawyers.

By Robert Freedman • Oct. 27, 2023

Explore the Trendline➔

Artificial intelligence

Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

By Banking Dive staff

Capital One leapfrogs Citi in small-biz banking satisfaction

A J.D. Power study found that the small-business owner satisfaction index has jumped due to improved digital experience and in-person support channels.

By Rajashree Chakravarty • Oct. 26, 2023

Payments infrastructure fintech Finzly raises $10M Series A

CEO Booshan Rengachari built Finzly out of inspiration he found from watching banks struggle with the inefficiencies of old technology.

By Gabrielle Saulsbery • Oct. 25, 2023

Cross River CEO predicts ‘bonanza’ for fintech, BaaS banks in 2024

While elevated interest rates continue to hammer traditional firms, banking-as-a-service remains a strong business model for tech-savvy firms who have fostered partnerships with fintechs, Gilles Gade said at Money20/20.

By Anna Hrushka • Oct. 25, 2023

SEC’s Peirce questions if crypto court fights are best use of resources

“I do worry that some of the things that we're doing in the crypto space could have adverse effects on the rest of the agency’s work,” she said. “Why don't we ... help people by thinking through some of the issues ahead of time?”

By Gabrielle Saulsbery • Oct. 25, 2023

OCC applying ‘supply chain mindset’ to bank-fintech scrutiny: Hsu

Arrangements where multiple parties play a role in delivering financial products to consumers are more complicated, and will likely garner more scrutiny from the OCC, Acting Comptroller Michael Hsu said.

By Anna Hrushka • Oct. 24, 2023

april launches embedded tax estimator for Gusto clients

Employees who use Gusto as a payroll services provider no longer have to be surprised at tax time, and can instead get the money when they need it most.

By Gabrielle Saulsbery • Oct. 23, 2023

Crypto legislation would put US ‘back in the game,’ stakeholders say

A pair of House bills would help the industry gain clarity, scale digital asset products and promote financial inclusion, cryptocurrency stakeholders said Sunday on a panel at Money20/20.

By Anna Hrushka • Oct. 23, 2023

SEC asks to dismiss its lawsuit against Ripple execs

Ripple called the move a “stunning capitulation.” Attorneys for the crypto firm and the SEC will meet to discuss proper penalties for the portion of XRP sales the judge ruled were illegal.

By Dan Ennis • Oct. 20, 2023

A look at Week 3 of the Sam Bankman-Fried trial

The third and final member of Bankman-Fried’s inner circle, who’d known him since high school, testified against the former CEO, as did an accounting professor who testified on behalf of the government during the Enron trial.

By Gabrielle Saulsbery • Oct. 20, 2023

CFPB unveils open banking proposal

The rule will make it easier for consumers to share deposit account and credit card data with fintechs, the CFPB said. Future rulemaking may also include mortgage, auto loan and student loan data, the bureau said.

By Anna Hrushka • Oct. 19, 2023

NY AG sues Gemini, Genesis, Digital Currency Group for fraud

Letitia James has sued multiple crypto firms this year. Now, she seeks to bar Gemini, Genesis and DCG from working in New York after alleging that they defrauded 230,000 people out of $1.1 billion.

By Gabrielle Saulsbery • Oct. 19, 2023

Plaid names first CFO amid potential run-up to public listing

The move comes as the 10-year-old fintech is reportedly considering going public after its failed agreement to be acquired by Visa.

By Alexei Alexis • Oct. 18, 2023

HSBC disables texting on work phones: report

The development follows a regulatory crackdown on the use of unapproved communication methods that result in recordkeeping violations.

By Gabrielle Saulsbery • Oct. 18, 2023

Basel publishes crypto exposure proposal

Banks will have to disclose crypto exposure by 2025 under plans unveiled Tuesday. The plans are open for public comment through Jan. 31.

By Gabrielle Saulsbery • Oct. 17, 2023

Can JPMorgan Chase fill the startup banking void?

The New York City-based firm added close to 200 bankers to its division that serves startups and VC-backed businesses this year as it looks to fill a space vacated by Silicon Valley Bank.

By Anna Hrushka • Oct. 17, 2023

Citi shed 2,000 positions in Q3, but tech hires offset them

The bank wants to cut five of its 13 management layers, with unit co-heads particularly at risk. Citi will also streamline financial-management reports. More personnel cuts are expected in November.

By Dan Ennis • Oct. 16, 2023

Family-first banking is what’s next for customer experience

The future of banking will take care of a customer’s most important investment— their family.

By Zur Yahalom, Senior Vice President, Head of Financial Services at Amdocs • Oct. 16, 2023

CFTC, FTC sue former Voyager Digital CEO

Stephen Ehrlich, the ex-chief executive of the bankrupt crypto firm created “no better than a house of cards,” a CFTC commissioner said. The company agreed to a $1.65 billion settlement with the FTC.

By Gabrielle Saulsbery • Oct. 13, 2023

A look at Week 2 of the Bankman-Fried trial

Sam Bankman-Fried's right-hand man and woman, who have both pleaded guilty to crimes related to FTX's downfall, testified about the recurring practice of stealing customer funds.

By Gabrielle Saulsbery • Oct. 13, 2023

Goldman to sell GreenSky to Sixth Street-led group

The deal, which marks the latest step in Goldman’s retreat from the mass market, will result in a hit of 19 cents per share to the firm’s third-quarter earnings.

By Anna Hrushka • Oct. 12, 2023

Ripple CFO departs for Maven Clinic amid SEC battle

CFO Kristina Campbell is leaving Ripple as the exchange continues its three-year battle with the SEC over its XRP token.

By Grace Noto • Oct. 10, 2023

Fed’s Waller pushes back on criticism of FedNow’s adoption rate

“We have got more in the pipeline and there are various estimates that could range from 250 to 350 by the end of the year, and they just continue to grow as banks do it,” the central bank governor said.

By Rajashree Chakravarty • Oct. 10, 2023

7 personnel moves that spotlight Truist’s reorganization

The bank’s CMO is out, its Foundry unit is shuttered, and a CIO has jumped to Wells Fargo, according to reports.

By Dan Ennis • Oct. 9, 2023