News Topic: Walmart
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Walmart-backed startup buying fintechs Even and One
Walmart taps American Express veteran to run membership plan
Walmart, Green Dot convert MoneyCard to a deposit account
Walmart partners with PayNearMe to support cash bill pay in stores
Walmart files for trademark for fintech unit: 'Hazel by Walmart'
Bank of America ready to compete with Walmart fintech, other tech startups, CEO says
Bank of America Chief Executive Brian Moynihan said the company is confident in its growth prospects even as competition intensifies from fintechs including Walmart’s startup. ... Read full article
What Goldman hires mean for Walmart's payments, banking ambitions
In adding Goldman Sachs veterans Omer Ismail and David Stark, the retail giant can enhance products such as Walmart Pay, Walmart+ and its fintech pact with Ribbit Capital. ... Read full article
Walmart lures Goldman bankers to lead fintech startup
Omer Ismail was a key architect of Goldman Sachs's consumer efforts in recent years and David Stark inked the bank's partnership credit card partnership with Apple. ... Read full article
Walmart's Ribbit pact gives it a jump on fintech innovation
Walmart's fintech venture with Ribbit Capital gives it a way to influence more technological developments in the retail industry. ... Read full article
Walmart creates fintech startup, speeding push beyond retail
The retail giant is teaming with the investment group Ribbit Capital on the venture, which will aim to provide new services to Walmart customers and employees. ... Read full article
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. ... Read full article
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. ... Read full article
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. ... Read full article
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. ... Read full article
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. ... Read full article
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. ... Read full article
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. ... Read full article
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. ... Read full article
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. ... Read full article