Financial Services

US banking trade groups want the Consumer Financial Protection Bureau (CFPB) to pause its planned crackdown on the fees, arguing it could lead to overdue bills.

SoFi can call itself a bank: A charter from the OCC—which SoFi has pursued through its acquisition of a community bank—will give it greater control over interest rates and help improve digital trust with prospects.

Big incumbent banks get fintech’s support to drive on-trend personalization: Israel-based Peronetics landed $85M to provide banks with AI-powered solutions to target their customers.

Spendesk is the latest expense management fintech to net funding—here’s why French fintechs are proving popular with investors this month.

Bitcoin is losing ground in the payments realm as stablecoins solve key crypto pain points, which could move the needle for crypto adoption.

Lunar’s Thought Machine deal will help bring it toe-to-toe with rivals: The core-banking provider’s cloud-based offering will support Lunar’s product lineup and future market expansions which need to keep pace with other European challengers.

JPMorgan’s tech-spending heft lets it iterate like a fintech: As part of its enviable $12 billion tech budget, the banking giant aims to switch up to half of its data and applications to the cloud this year.

The US banking giant not only eliminated overdrafts, it introduced a lending alternative—charting a course for banks to jettison the controversial fees while continuing to serve those dependent on them.

The US mortgage debt balance will hit $14.412 trillion in 2022, as consumers continue to snap up homes at a pace not seen since before the Great Recession.

Current’s high-yield product will attract customers—but then what?: The US neobank will pay 4.00% APY to customers with Savings Pods, up to $6,000 annually for paid users. But it still needs to build primary banking ties to make lasting gains.

Visa Acceptance Cloud, which lets payment service providers embed transaction software into digital devices, opens new acceptance channels for Visa.