The Delaware company would remove a rival, gain scale in affluent Philadelphia suburbs and accelerate its transformation from a branch-heavy lender to a digital-first bank with the $976 million acquisition.
Square, LendingClub and SoFi are among the upstarts that once positioned themselves as outsiders but now seek to challenge banks more directly. Here's how they're doing it.
The House Financial Services chair joined other Democrats to warn the federal agencies against further easing of the supplementary leverage ratio, a key capital requirement for large banks.
“Supervised firms that are not making adequate progress in transitioning away from Libor could create safety and soundness risks for themselves and for the financial system,” a Fed division director said.
The Arizona Fintech Council, an organization of banks, economic and technology groups, will encourage collaboration and access to the state's regulatory sandbox to promote a version of Europe's open banking policy in the U.S.
Goldman Sachs Group said it will commit $10 billion in investment capital over the coming decade to help address the disproportionate biases that Black women have faced for generations.
Citigroup is punishing investment firms that kept payments the bank accidentally sent to Revlon lenders by blocking them from certain new debt offerings led by the bank, according to people with knowledge of the matter.
As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone involved, including data aggregators and fintechs.
Andrew Harmening, who oversaw Huntington's digital strategy, will succeed the retiring Philip Flynn as president and CEO of the Wisconsin regional bank in April.
