Regions Bank parent company Regions Financial Corp. has expanded its services by acquiring The Frazer Lanier Company, a Montgomery, Alabama-based full-service investment banking firm specializing in municipal and corporate securities. Regions announced in a Thursday (July 2) press release that it closed on the acquisition....
Last month, JPMorgan Chase was ordered to pay $4.2 million in a wrongful-termination case. The circumstances of the suit made headlines: broker Brent Ryan Bodner was fired for submitting an expense for a $642 deli platter, which he said was ordered for clients who never arrived for a...
Real-time payments move money faster, and they remove the window to recover it. Transactions sent over instant rails are irreversible. Once funds leave an account, they cannot be recalled, leaving institutions with no way to claw the money back. The problem is compounding. PYMNTS Intelligence...
Adding a FinTech partner has become much easier than managing dozens of them over time. To that end, banks and credit unions have been relying on outside providers for everything from payments and digital onboarding to fraud prevention and data analytics. Partnerships remain central to...
The sale of British digital lender Atom Bank is reportedly in danger of falling through. That’s according to a report Monday (June 28) from the Financial Times (FT), which says an auction for Atom Bank failed to attract bids at the 600 million pound ($756 million) range hoped...
Federal Reserve Vice Chair for Supervision Michelle W. Bowman has completed a reorganization of the agency’s bank oversight unit that she announced in October, Bloomberg reported Wednesday (June 24). The reorganization is meant to focus supervision on core financial risks, according to the report, which...
Green Dot has moved one step closer to separating its banking and FinTech operations. The company announced Tuesday (June 23) that its shareholders had approved the sale of Green Dot Bank to CommerceOne. That sale is part of a larger process that involves CommerceOne forming a new publicly traded...
Happen, formerly known as LendingClub, has announced the official launch of its digital bank. The new Happen Bank brand is available now on the company website, mobile app and via customer communications and advertising, the lender said in a news release Monday (June 22), the same day...
Private capital asset manager Pollen Street plans to acquire Finastra’s global core banking software business, Universal Banking (UB), and support UB as it becomes a standalone business. Pollen Street will provide investment to UB to help the company accelerate product innovation, strengthen customer delivery and expand capabilities, the companies said in a Friday (June...