LendingClub, poised to be the first U.S. online lender to buy a bank, says the transaction will be completed in early February now that it has received approvals from the Office of the Comptroller of the Currency and the Federal Reserve.
The Pittsburgh company intends to continue adding commercial offices and retail branches in markets it had been eyeing before agreeing to buy BBVA USA for $11.6 billion.
Tier1 Financial Solutions says the acquisition will give it access to midsize financial institutions and that Alessa's product will improve onboarding for Tier1's clients.
Robert Kafafian says he's hearing more MOE chatter now than at any time in his decades-long career as a consultant. He cited smaller banks' need to cut costs, improve tech offerings and compete with bigger lenders.
After calling off its bid to buy the data aggregator Plaid, the card network is shifting its focus back to its role as an enabler of digital payments and related services.
