Walmart, Green Dot inching MoneyCard closer to banking look-alike


The reloadable debit card resembles a bank account with new high-yield savings account and other tweaks.


Rakuten withdraws ILC application, plans to refile


The company's plan had drawn strong criticism from bankers about Rakuten's potentially controlling an industrial loan company while engaging in its non-financial businesses.


FDIC nears decision on ILC bids as it floats new standards for charter


On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.


FDIC to issue proposal on ILCs at agency board meeting


A decision by regulators on how to move forward with the controversial charter could have broad implications for fintech firms that want to enter the banking system.


Is Congress spoiling for another fight over ILCs?


The Rakuten application has piqued interest in reviving legislation aimed at stopping commercial firms from owning banks. Yet Congress previously had the chance to enact such a measure and declined.


Green Dot renews vital card partnership with Walmart


The two companies agreed to continue to collaborate on a prepaid card program until 2027. The deal holds particular importance for Green Dot, which relies heavily on revenue generated at the discount retail giant.


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.


Capital One set to launch Walmart credit cards next week


The launch of the products comes more than a year after Capital One wrested the Walmart partnership from Synchrony Financial.


Recession-proofing loan books, Trump DOJ goes easy on big banks, Fed's real-time payment: Top stories of the week


Anticipating recession, banks start scrubbing loan books; how Trump's political appointees thwarted tougher settlements with two big banks; the Fed's plans on its real-time payment service; and more from this week's most-read stories.


Why Walmart's cryptocoin is getting a warmer welcome than Facebook's


There are subtle differences in Walmart's virtual currency project compared to Facebook's Libra, but these may be enough to avoid the regulatory firing squad that Facebook has endured.