HSBC eyes non-crypto digital asset custody in 2024

The British bank will use technology from Metaco — which Ripple has agreed to buy — to store bonds and other securities in a move meant to complement HSBC’s Orion platform, which will issue digital assets.

By Dan Ennis • Nov. 8, 2023

Half of CFTC’s 2023 enforcement actions had crypto ties

Of the Commodity Futures Trading Commission's 96 enforcement actions charging fraud, manipulation, and other violations in fiscal 2023, 47 were against players in the digital asset space.

By Gabrielle Saulsbery • Nov. 8, 2023

Explore the Trendline➔

Artificial intelligence

Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

By Banking Dive staff

Regions Bank partners with credit-building fintech

Through a new partnership with Self Financial, Regions customers can have their rent, cell phone and utility payments reported to the three major credit bureaus.

By Anna Hrushka • Nov. 7, 2023

Truist CFO: Structure reorg is key to $750M cost-cutting plan

CFO Mike Maguire says the bank is making good progress, as it grapples with a string of high-profile executive departures.

By Suman Bhattacharyya • Nov. 7, 2023

Former FTX CEO found guilty on 7 counts

Nearly a year after FTX's collapse and 11 months after his arrest in the Bahamas, Sam Bankman-Fried has been found guilty of fraud. Sentencing was tentatively set for March 28.

By Gabrielle Saulsbery • Nov. 2, 2023

PayPal’s new CEO promises improvements

Alex Chriss, who took the top post in September, tapped a new chief financial officer Wednesday and pledged to better focus the digital payment company's strategy.

By Lynne Marek • Nov. 2, 2023

Funding Circle gets long-awaited shot at SBA lending

Funding Circle joins Arkansas Capital Corp. and Alaska Growth Capital BIDCO as the first nondepository institutions to be granted new Small Business Lending Company licenses in 40 years.

By Anna Hrushka • Nov. 1, 2023

Do Kwon wants SEC suit tossed

Attorneys for Kwon, the once-fugitive founder of Terraform Labs, said that the Securities and Exchange Commission has yet to prove he did anything wrong.

By Gabrielle Saulsbery • Oct. 31, 2023

What bank, fintech execs are saying about AI

Ahead of the Biden administration’s landmark executive order unveiled on Monday, banks and fintech executives discussed AI use cases and implications at Money20/20 last week.

By Anna Hrushka , Gabrielle Saulsbery • Oct. 30, 2023

Digital Twins: Catalyzing AI for financial risk management

As banks look to the future, the strategic integration of AI and Digital Twin models will provide banks with the accuracy and foresight needed to navigate the ever-evolving financial landscape. 

Oct. 30, 2023

A look at Week 4 of the Sam Bankman-Fried trial

Bankman-Fried admitted that FTX didn't turn out how he expected: "A lot of people got hurt," he said. But he said he didn't defraud anyone.

By Gabrielle Saulsbery • Oct. 27, 2023

On the stand, Bankman-Fried blames FTX counsel

The founder of the collapsed crypto exchange said his use of funds at the core of fraud charges against him was cleared by lawyers.

By Robert Freedman • Oct. 27, 2023

Capital One leapfrogs Citi in small-biz banking satisfaction

A J.D. Power study found that the small-business owner satisfaction index has jumped due to improved digital experience and in-person support channels.

By Rajashree Chakravarty • Oct. 26, 2023

Payments infrastructure fintech Finzly raises $10M Series A

CEO Booshan Rengachari built Finzly out of inspiration he found from watching banks struggle with the inefficiencies of old technology.

By Gabrielle Saulsbery • Oct. 25, 2023

Cross River CEO predicts ‘bonanza’ for fintech, BaaS banks in 2024

While elevated interest rates continue to hammer traditional firms, banking-as-a-service remains a strong business model for tech-savvy firms who have fostered partnerships with fintechs, Gilles Gade said at Money20/20.

By Anna Hrushka • Oct. 25, 2023

SEC’s Peirce questions if crypto court fights are best use of resources

“I do worry that some of the things that we're doing in the crypto space could have adverse effects on the rest of the agency’s work,” she said. “Why don't we ... help people by thinking through some of the issues ahead of time?”

By Gabrielle Saulsbery • Oct. 25, 2023

OCC applying ‘supply chain mindset’ to bank-fintech scrutiny: Hsu

Arrangements where multiple parties play a role in delivering financial products to consumers are more complicated, and will likely garner more scrutiny from the OCC, Acting Comptroller Michael Hsu said.

By Anna Hrushka • Oct. 24, 2023

april launches embedded tax estimator for Gusto clients

Employees who use Gusto as a payroll services provider no longer have to be surprised at tax time, and can instead get the money when they need it most.

By Gabrielle Saulsbery • Oct. 23, 2023

Crypto legislation would put US ‘back in the game,’ stakeholders say

A pair of House bills would help the industry gain clarity, scale digital asset products and promote financial inclusion, cryptocurrency stakeholders said Sunday on a panel at Money20/20.

By Anna Hrushka • Oct. 23, 2023

SEC asks to dismiss its lawsuit against Ripple execs

Ripple called the move a “stunning capitulation.” Attorneys for the crypto firm and the SEC will meet to discuss proper penalties for the portion of XRP sales the judge ruled were illegal.

By Dan Ennis • Oct. 20, 2023

A look at Week 3 of the Sam Bankman-Fried trial

The third and final member of Bankman-Fried’s inner circle, who’d known him since high school, testified against the former CEO, as did an accounting professor who testified on behalf of the government during the Enron trial.

By Gabrielle Saulsbery • Oct. 20, 2023

CFPB unveils open banking proposal

The rule will make it easier for consumers to share deposit account and credit card data with fintechs, the CFPB said. Future rulemaking may also include mortgage, auto loan and student loan data, the bureau said.

By Anna Hrushka • Oct. 19, 2023

NY AG sues Gemini, Genesis, Digital Currency Group for fraud

Letitia James has sued multiple crypto firms this year. Now, she seeks to bar Gemini, Genesis and DCG from working in New York after alleging that they defrauded 230,000 people out of $1.1 billion.

By Gabrielle Saulsbery • Oct. 19, 2023

Plaid names first CFO amid potential run-up to public listing

The move comes as the 10-year-old fintech is reportedly considering going public after its failed agreement to be acquired by Visa.

By Alexei Alexis • Oct. 18, 2023

HSBC disables texting on work phones: report

The development follows a regulatory crackdown on the use of unapproved communication methods that result in recordkeeping violations.

By Gabrielle Saulsbery • Oct. 18, 2023