Quontic Bank CEO Steven Schnall wants to turbocharge deposit growth by mimicking the strategies of big digital banks so his community development financial institution can become a much larger mortgage lender.
The rush to hold hearings in both the House and the Senate reflects broad skepticism across the political spectrum about the social network's plan to develop an alternative payment system.
Other banks say they need to add branches to attract more deposits, but Capital One is sticking to its strategy of aggressively closing them and gathering the bulk of new deposits online.
Banks clear both rounds of stress tests (though two of them needed a do-over); BNY Mellon goes all-in on digital; bank industry struggles to stop slide in latest reputation survey; and more from this week's most-read stories.
