The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter.
Corporations now have more access to consumer financial information than ever before. The question is whether banks will be the ones to help firms harness this data.
TD and several other banks are licensing credit underwriting and fraud prevention technology from the fintech Avant to get their digital-lending products to market faster.
Community banks are open to working with innovative financial startups, but regulators must ensure they face the same oversight standards as traditional banks.
Banks of all sizes need to stick together to ward off threats from "unregulated" fintechs and other nonbanks, Bank of America Chairman and CEO Brian Moynihan said Tuesday.
