The vast majority of comment letters to the FDIC support the fintech’s banking venture, in stark contrast to the public outcry over the pre-crisis ILC bids by large retailers.
The agency began seeking comments in December through a "request for information" on how to improve the agency's process for considering new deposit insurance applications.
As robotic process automation expands into day-to-day lending operations, IBM is teaming up with UiPath, a startup that specializes in the new technology.
The bureau wants to further remove the threat of legal liability for firms that test products benefiting consumers, but the attorneys general say the agency cannot provide immunity from state law.
The agency's update is good news for banks digesting data suggesting that nonbanks cut into their share of small-business loans during the partial government shutdown.
The mortgage loan origination system developer Ellie Mae is going private, agreeing to be acquired by the private equity firm Thoma Bravo in an all-cash transaction valued at $3.7 billion.
