Fintechs clamor for FedNow access

The association representing Block, Stripe and others is asking the central bank to make access to the faster payments system more widely available.

By Lynne Marek • Oct. 18, 2022

Green Dot fires CEO, names replacement

The company terminated Dan Henry, its CEO since 2020, on Friday, it said. George Gresham, the firm’s chief financial and operating officer, is stepping into the top role.

By Anna Hrushka • Oct. 17, 2022

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

Fed’s Waller expresses skepticism on CBDC

Launching a digital currency could introduce costs and risks that could harm the U.S. dollar's standing internationally, Waller said. The dollar’s primacy, he added, has little to do with technology.

By Gabrielle Saulsbery • Oct. 17, 2022

Warren roasts Wells Fargo’s ‘severely bad performance’ on Zelle fraud

Four of the seven banks that own Zelle reported specific data to the senator, but she focused on Wells CEO Charlie Scharf specifically in a letter Thursday.

By Gabrielle Saulsbery • Oct. 14, 2022

Apple to launch high-yield savings account with Goldman Sachs

The move is the logical next step for the Apple-Goldman partnership, according to one consultant, who said the day-to-day banking product complements Apple’s Goldman-powered credit-card offering.

By Anna Hrushka • Oct. 14, 2022

Custodia Bank accuses Fed of favoritism toward BNY Mellon

The Wyoming-based bank said the Fed’s warning last week on crypto is counter to allowing BNY Mellon to hold and transfer digital assets.

By Anna Hrushka • Oct. 13, 2022

4 takeaways from Michael Barr’s DC Fintech Week speech

The Federal Reserve’s vice chair for supervision stressed caution with banks’ ties to crypto and spotlighted what sets stablecoins apart from other digital assets.

By Dan Ennis • Oct. 13, 2022

Gen Z neobank Step launches crypto investing, rewards

The fintech, which claims to have more than 3 million customer accounts, said it is partnering with digital assets infrastructure and regulatory platform Zero Hash to offer transaction and custody services.

By Anna Hrushka • Oct. 12, 2022

Crypto exchange Bittrex to pay $29M to settle AML, sanctions charges

The exchange failed to file any suspicious activity reports for more than three years and allowed customers in Syria, Sudan, Iran, Cuba and the Crimea to make tens of thousands of transactions, two Treasury offices said Tuesday.

By Dan Ennis • Oct. 12, 2022

BNY Mellon set to take clients’ crypto

The move comes more than a year and a half after the bank laid out its intention to hold, transfer and issue digital assets. It received NYDFS approval within the past month.

By Dan Ennis • Oct. 11, 2022

OCC wants more data on banks’ crypto-related activities

Banks are already required to seek the OCC’s non-objection before engaging in crypto activity. But further enhancements may be needed “to track the risk of cross-contagion,” Acting Comptroller Michael Hsu said.

By Anna Hrushka • Oct. 11, 2022

Celsius co-founder Leon follows Mashinsky out

The crypto lending firm’s chief strategy officer, Shlomi Daniel Leon, has left the company, shortly after fellow co-founder Alex Mashinsky, joining a growing list of recently departed crypto executives.

By Gabrielle Saulsbery • Oct. 5, 2022

Inside Stash’s crypto-winter gamble

The investment app expands access to digital assets, spotlighting a long-term view of the currencies, in the platform's first offering on a new core system.

By Suman Bhattacharyya • Oct. 5, 2022

Crypto bank Anchorage pushes into Asia

Anchorage Digital, valued over $3 billion, established six partnerships across Asia, including in Singapore and Thailand.

By Gabrielle Saulsbery • Oct. 5, 2022

FSOC wants legislation to fill crypto sector oversight gaps

The panel wants regulators to work in tandem to issue rules that would help prevent regulatory arbitrage in the sector.

By Anna Hrushka • Oct. 4, 2022

3 times Michelle Bowman stood out as the Fed’s anti-Barr

The central bank governors diverged on stress tests, mergers and digital assets in recent speeches but appear to agree on capital requirements.

By Dan Ennis • Oct. 3, 2022

M&T pledges to rectify People’s United account access issues

The bank’s pledge, in response to letters of concern from five senators and Connecticut’s attorney general, came during a week when M&T disclosed 325 layoffs in the Nutmeg State.

By Gabrielle Saulsbery • Oct. 3, 2022

How JPMorgan Chase allots its $14B IT budget

Between hybrid cloud infrastructure, data security and supporting roughly 6,000 apps, JPMorgan Chase’s technology portfolio is massive. “Sometimes people get stuck on the number,” said Lori Beer, the bank’s global CIO.

By Matt Ashare • Oct. 3, 2022

Improving the odds of success for your bank’s digital transformation

Banks know that they have to change for the digital engagement age, but often lack the knowledge to find the best approach. Discover how you can boost your bank’s chances for success with a few simple steps.

Oct. 3, 2022

Banks turn to automation to realize efficiency gains

Automation will increasingly support customer experience improvements, product releases and other client-relations objectives, analysts said.

By Suman Bhattacharyya • Sept. 30, 2022

Digital banks, credit unions should factor into merger reviews: Fed’s Bowman

Potential combinations should hinge on risk analysis, not deposit market share, in an update to 1995 guidelines, the central bank governor said Wednesday.

By Dan Ennis • Sept. 29, 2022

Celsius CEO, FTX US president resign

Mashinsky’s departure comes amid bankruptcy proceedings his company initiated in July. Harrison’s resignation comes one day after FTX US won the bid to buy Voyager Digital’s assets for $1.4 billion.

By Gabrielle Saulsbery • Sept. 28, 2022

FTX wins bid to buy Voyager’s assets for $1.42B

The deal comes two months after the crypto brokerage accused FTX’s billionaire owner of trying to subvert its bankruptcy process by offering early liquidity to Voyager customers.

By Gabrielle Saulsbery • Sept. 27, 2022

PNC buys restaurant point-of-sale firm Linga

The Pittsburgh-based bank is boosting its payments footprint as banks from Banc of California to JPMorgan Chase are making similar large investments.

By Anna Hrushka • Sept. 27, 2022

Varo’s tech unit looks to speed development, find efficiencies

The neobank aims to diversify its offerings in payments and lending, but there are unresolved questions about the company’s path to profitability.

By Suman Bhattacharyya • Sept. 26, 2022