A new regulatory report shows non-bank groups accruing more assets than their traditional banking counterparts. The value of assets by these groups — which include private credit providers, hedge funds and insurance companies — grew at more than twice the rate of assets in the...
German digital bank N26 has chosen a chief executive amid new regulatory sanctions. Mike Dargan, currently group executive board member for UBS, will become N26’s new CEO starting in April 2026, pending regulatory approval, the company announced Monday (Dec. 15). “Dargan is a seasoned international...
The Federal Reserve Bank of Atlanta has begun a search for a president and CEO to succeed Raphael W. Bostic, who announced in November that he will retire at the end of his current term. The search committee will be chaired by Gregory Haile, chair of the Atlanta Fed...
Embedded finance is transforming not just how transactions happen but where financial relationships begin. What once sat at the edge of apps and platforms is now embedded directly into the daily workflows of consumers and businesses, pulling banks toward realizing new revenue streams and balance...
Digital financial services firm SoFi has debuted its “all-in-one account” Smart Card. The new account, announced Wednesday (Dec. 10) for SoFi Plus members, is designed to offer better choice and control over spending, rewards, a way to build credit history, and high interest on savings...
Nonbanks expanded sharply in corporate credit during the past decade, and this growth coincided with a market in which leverage steadily moved higher. Private credit funds and finance companies have became central players as banks faced new rules on leverage. New regulatory changes now set...
HSBC has appointed Jason Henderson as CEO for the United States, effective Tuesday (Dec. 9). Henderson has served as interim CEO since August and has been with the bank for nearly 20 years, HSBC said in a Tuesday press release. As CEO, he will report...
Revolut has reportedly offered to repurchase shares from former employees at a 30% discount to its recent funding round. The U.K. FinTech is giving ex-staffers the opportunity to sell their shares back to the company — recently valued at $75 billion — for $966.74 each, the...
Fifth Third Bancorp reportedly plans to boost its investment in new branches through 2029 to $1.9 billion. That figure is up from the $225 million the bank said in 2018 it would invest to add 100 new branches in the Southeast, Bloomberg reported Monday (Dec....