Charter or not, fintechs are already ‘banking’


A more practical approach for U.S. regulators on whether to bring fintechs into the banking fold might be ‘better the devil you know than the devil you don’t.’


14 years after Walmart, banks face a new ILC bogeyman


The Rakuten application has opened another front in the battle over nonfinancial companies' ownership of banks.


Praise and scorn for California's new business loan disclosure plan


Under a state proposal, annual percentage rates would have to be disclosed on nonbank commercial loans of $500,000 or less. Lenders' responses have been mixed depending on their business model.


Mortgage servicer AmeriNat refiles for industrial bank charter


The company withdrew an earlier bid to become an ILC after regulators identified problems with its application. It is seeking a Nevada bank charter because it wants to add deposit management services and expand into small-business lending.


GreenSky exploring potential sale after earnings disappoint


The Atlanta fintech, whose shares have plummeted since it went public last year, also said it will stop providing financial guidance to its investors.


Latest to seek ILC charter is Japanese e-commerce firm


Rakuten joins a growing list of fintechs trying to enter the regulated banking sector. All have faced their share of obstacles.


Square sued over privacy issues; Banks eye Australia market


A California man says the company sent his medical information to a friend of his; the Big Four's monopoly may be coming to an end as Citi and others move in.


Biggest changes in digital banking are just ahead


Many might think that the technological disruption of the industry is already underway, but it’s likely that the most significant restructuring is still yet to come.


Citigroup insider trading leak alleged; Square works to reduce receipt snafus


Employee may have leaked information about upcoming deals; company says it’s rare that the wrong person gets email receipt, but it's looking to improve.


Small businesses turning far more often to online lenders: Fed


The findings of a new survey suggest that banks risk becoming irrelevant unless they match the speedier processes that are a key selling point for online lenders.