It was Varo's second try with the Federal Deposit Insurance Corp., but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators.
Greg Seibly guided Sterling through the financial crisis before engineering its sale to Umpqua Holdings in 2014. He is currently CEO of the Federal Home Loan Bank of San Francisco.
A new report from J.D. Power found that younger consumers increasingly believe the largest banks are better than regionals at providing financial guidance through digital channels.
Popular’s branch in a Brooklyn neighborhood faced an uncertain future until it was designated as a bank development district. Now it’s eligible to receive millions of dollars in municipal deposits.
The people of tiny Duncan, Ariz., have found creative ways to adapt to life in a banking desert, but their experience augurs a worrisome future for many other rural communities.
Verdict on OCC’s supervision of Wells Fargo expected in late spring; TD Bank names Matt Boss its new consumer products chief; CenterState and South State plan $3.2B merger with operations stretching from Virginia to Florida; and more from this week’s most-read stories.
