Senate Republicans target banks refusing services to ICE contractors


Five Republican senators want to cut off deposit insurance for banks that have stopped offering financial services to firms that operate detention facilities and private prisons on behalf of the federal government.


Pressure grows on Barclays CEO; JPM tightens rules on working with fintechs


For the second time in four years regulators are investigating Jes Staley; fintechs have until July 30 to sign agreements on how they access customer data.


Bank of England raises capital buffer for largest lenders


The central bank gave the seven banks passing grades on their stress tests but said that they will need to start holding more high-quality capital to guard against a potential economic downturn.


Is Uber Wallet a challenger bank—or something more ambitious?


Uber launched a series of financial services to provide real-time wage payments and enhanced account features in a single app, seemingly putting Uber in the role of a digital bank.


Behind Citi’s Fraser pick; payments companies’ strong quarter


Banks have been pressured to improve diversity in leadership; Visa reports higher volume while PayPal says Venmo now contributing.


EU to regulate Libra; Robinhood joins online deposit war


The EU wants to protect the euro and ensure Facebook’s digital currency isn’t used for money laundering; the brokerage is partnering with six banks to offer 2% on account balances.


Deutsche Bank plans new tech division; bitcoin futures platform fizzles


The German bank is trying to reverse its reputation for “lousy systems;” the Bakkt platform has failed to attract much trading in its first two weeks.


Subprime card lender introduces ex-Barclays exec as CEO


Mission Lane, which was spun off from LendUp in December, said Monday that Shane Holdaway took the helm in August after roughly a year serving as CEO of Barclays' U.S. consumer bank. The upstart lender also announced that it has raised $200 million in equity funding.


Warren: Trump DOJ settlements let big banks off easy


Following an article by American Banker and ProPublica that detailed how political appointees weakened the penalties paid by two large banks, the Massachusetts senator is demanding more information from the Justice Department.


How Trump’s political appointees thwarted tougher settlements with two big banks


After talks with well-connected lawyers for Barclays and the Royal Bank of Scotland, senior Justice Department officials in Washington last year overruled career prosecutors who had been investigating wrongdoing that cost investors billions.