Online financial services company Enova has withdrawn its bank regulatory applications related to the proposed acquisition of Grasshopper Bancorp, saying in a Monday (Sept. 14) press release that the process is “susceptible to political pressure and outside advocacy.” Enova withdrew its applications with the Office...
Financial software provider Finastra could reportedly soon be up for sale by its private equity firm owner. Vista Equity Partners is exploring options for U.K.-based Finastra that could include a sale, Reuters reported Tuesday (Sept. 15), citing four sources familiar with the matter. Other options could include Vista selling a...
TD Bank has announced a five-year, $108 billion (150 billion Canadian dollars) commitment to Canada’s “investment supercycle.” The project is designed to prompt new lending, underwriting and other financial activities while promoting investment and critical sectors, the Toronto-based TD announced Monday Sept. 14. “Canada is entering a defining...
Nu, which has built its digital bank in Latin America over the past 13 years, entered the United States with a full suite of products, the company said in a Thursday (Sept. 10) press release. Nu launched in the U.S. through a partner bank model...
U.S. Bank has debuted its own stablecoin, the latest lender embracing the digital asset. The bank announced Wednesday (Sept. 9) that it had used the dollar-backed USBDC for a cross-border payment between U.S. Bank entities in North America and Europe. “As one of the first bank-issued stablecoins deployed on...
Chime plans to acquire its bank partner, Oklahoma-headquartered Stride Bank, to further Chime’s efforts to provide “mainstream America” with better banking, the company said in a Tuesday (Sept. 8) press release. Chime signed a definitive agreement to acquire Stride for $590 million in cash, and...
Fifth Third Bancorp completed the technical and brand conversion of the Comerica franchise over the Labor Day weekend, the bank said in a Tuesday (Sept. 8) press release. The conversion, which followed the Feb. 1 merger of Fifth Third and Comerica, brought Comerica consumer and...
A merger between EverBank and WaFd pairs digital reach with a large branch network at a time when banks are finding value in customers who move readily between both. The proposed $3.9 billion merger of EverBank and WaFd brings together institutions with different distribution models....
Seattle-based bank WaFd has agreed to merge with EverBank in a $3.9 billion deal. The combination, announced Monday (Sept. 7), will see WaFd remain a publicly traded company, changing its name to EverBank Financial, and trading on the stock market under the ticker “EVBK.” “EverBank...