New York Community Bancorp (NYCB) has announced leadership changes in the CEO role and a board position. These changes came on the same day the bank said it could not complete its annual report by the due date, according to the company’s Thursday (Feb. 29)...
Embedded banking firm Treasury Prime is cutting staff amid a new shift in strategy. “For years, we’ve been saying that the future of banking is embedded, with regulated institutions and technology firms working closely together to deliver critical financial services within new channels and apps,” CEO Chris Dean wrote on...
More than 140,000 business accounts in the United Kingdom were closed by major banks in the last year, according to the U.K. Parliament’s Treasury Committee. That figure amounts to 2.7% of all accounts held by small businesses, the committee said in a Tuesday (Feb. 27) press...
Cross River Bank and CRB Securities are moving into the investment banking space. The company’s investment banking team will help FinTechs with decisions such as mergers and acquisitions, capital markets transactions and other corporate finance matters, according to a Monday (Feb. 26) press release. It will be led by...
Michael Hsu, CEO and acting comptroller of the currency for the Office of the Comptroller of the Currency (OCC), recently reiterated his agency’s commitment to mitigating any perceived risks in banking — especially those triggered by collaborations with FinTechs. Speaking last week at Vanderbilt University,...
Embattled Indian FinTech Paytm is reportedly turning to a group of banks for help. The company is likely to work with Aix Bank, HDFC, Yes Bank and the State Bank of India to process transactions though India’s popular unified payments interface (UPI), Reuters reported Monday (Feb. 26), citing...
Consumers are reportedly taking legal action after allegedly being deceived by their banks’ savings offerings. As The Wall Street Journal (WSJ) reported Sunday (Feb. 25), these customers say their banks advertise high-yield accounts while paying longtime customers lower rates. In some instances, the report said,...
Regions Financial is shortening the tenors of certificates of deposits (CDs). This is part of an effort by the bank to manage deposit costs in preparation for the Federal Reserve to start cutting interest rates, Seeking Alpha reported Wednesday (Feb. 21), citing comments made by Regions Financial Chief...
Stark Bank, a growing FinTech startup based in Sao Paulo, Brazil, reportedly caught the attention of investors including Jeff Bezos’ family office, Bezos Expeditions, which participated in the firm’s 2022 Series B round. The company is one of the few Latin American startups backed by...
