FDIC: Banks should alert agency of their crypto-related pursuits

The regulator said it supports safe and sound innovations, but is concerned that the risks associated with crypto assets and crypto-related activities are not well understood.

By Anna Hrushka • April 8, 2022

Toomey bill would let OCC give charters to stablecoin issuers

The Republican senator's draft bill would preserve state-registered money transmitter status for most existing issuers and would clarify that insured depository institutions are permitted to issue the digital currency.

By Anna Hrushka • April 7, 2022

Explore the Trendline➔

The Banking Dive Outlook on 2022

Some narratives in 2022, such as office returns, will seem like a logical progression from the year before. Others, such as the regulatory sphere and shift toward smaller M&A, may mark a big shift from the previous 12 months.

By Banking Dive staff

U.S. Bank pilots real-time payments app for car sales

The Minneapolis-based lender is also working on new applications in the broker-dealer and residential real estate title markets, said Mike Jorgensen, head of emerging sales and strategy at the bank.

By Lynne Marek • April 4, 2022

Sen. Cruz seeks to restrict Fed role for CBDC

The Texas Republican's legislation, which follows a House bill introduced this year, would prevent the central bank from issuing a digital currency directly to consumers.

By Jonathan Berr • April 4, 2022

Accelerated build: bridging the build vs. buy gap

Explore the build and buy options in order to better understand what accelerated build brings to the table.

April 4, 2022

Citizens Bank offers on-demand pay product for corporate clients

The bank said the service can be up and running within 30 days. Citizens is working with an unnamed third-party vendor to provide the offering, an executive said.

By Anna Hrushka • April 1, 2022

Cross River hits $3B valuation, eyes global expansion — but still defies labels

"Besides the technology ... we also are a regulated financial institution, and the combination of the two really is the secret sauce that allows us to work" with heavy-hitting partner companies, executive Hillel Olivestone said.

By Anna Hrushka • March 31, 2022

Goldman to buy retirement plan robo-adviser NextCapital

Details of the transaction were not disclosed. But Goldman isn't the only big bank to make a play in the robo-advising space this year. UBS in January agreed to acquire Wealthfront in a deal worth $1.4 billion.

By Robin Bradley • March 30, 2022

House bill would put CBDC alternative in Treasury's hands

Legislation proposed Monday emphasizes privacy, financial inclusion and anti-money laundering protections, and would "preserve a role in our financial system for smaller anonymous cash-like transactions," backers said.

By Lynne Marek • March 29, 2022

Fed's Powell lists his 4 qualifications for a US CBDC

A digital dollar must ensure user privacy, be "identity verifiable," be "intermediated" and be widely accepted as a means of payment, the central bank chief said at an event hosted by the Bank for International Settlements.

By Dan Ennis • March 24, 2022

Goldman's OTC crypto trade may cement bank's leading role in digital assets

The firm partnered with Galaxy Digital to execute the trade of a Bitcoin non-deliverable option, the first such transaction by a Wall Street bank.

By Robin Bradley • March 22, 2022

3 ways banking and finance could blur in 2022

Relationships have taken root where there was once overlap between banks and other financial service providers, writes Fabrizio Burlando, executive vice president of consulting at Mastercard.

By Fabrizio Burlando • March 17, 2022

Green Dot deal aims to give underbanked a direct line to Plaid's partners

The move allows Plaid Exchange to act as a conduit so GO2bank users can bypass screen scraping the way customers of larger financial institutions can — while connecting their data to Plaid's more than 6,000 partners.

By Dan Ennis • March 15, 2022

3 execs are leaving Citi for crypto or fintech. Will it be a turnover trigger for the bank?

Goldman Sachs suffered a rash of executive flight last year. If leaders continue to leave Citi, observers may look back at these departures as cumulatively significant.

By Dan Ennis • March 14, 2022

Biden's digital-asset order may prompt legislation

Calls for coordination across government agencies and a relatively short timeline to produce reports on the issue reinforce how seriously officials view forward movement, a law professor said.

By Caitlin Mullen • March 11, 2022

White House lays out digital-asset priorities

An executive order issued Wednesday details six priorities in "harnessing the potential benefits" of the emerging technologies.

By Lynne Marek • March 9, 2022

Transforming banking through talent and technology

With rising expectations from clients and the workforce, alongside broadening competition, now is a critical time for banks to move beyond superficial digital interactions and level up their customer and employee experiences.

By Bonnie Chase, Director of Product Marketing, Coveo • March 7, 2022

WhatsApp scandal's specter rises again

Citi, Goldman Sachs and HSBC all warned, in their annual reports, that the SEC and CFTC are investigating banks' record-keeping of communications through private platforms.

By Dan Ennis • March 1, 2022

US expands Russia sanctions to Sberbank, Gazprombank executives

The new round of sanctions, levied against the nation for its ongoing war against Ukraine, also includes limits on three Russian television stations.

By Dan Ennis • Updated May 9, 2022

SoFi to buy banking software firm Technisys for $1.1B

The deal would give the newly minted bank control of its platform's back-end technology. The transaction could generate $800 million in additional revenue by 2025, the company said.

By Robin Bradley • Feb. 22, 2022

Washington policymakers spout off on CBDCs

A Friday speech by Fed Gov. Lael Brainard and a Feb. 7 report from the Congressional Research Service underscore the U.S. government's rising interest in a digital dollar.

By Lynne Marek • Feb. 22, 2022

Circle delays SPAC merger, doubles valuation to $9B

The firm behind USD Coin has renegotiated its transaction terms with Concord Acquisition, pushing back the termination date to as late as Jan. 31, 2023.

By Robin Bradley • Feb. 18, 2022

Coinbase muscles in on popular remittance corridor

The company is partnering with Remitly to let users in Mexico cash out crypto transfers in pesos — a service that will be free through March.

By Robin Bradley • Feb. 16, 2022

Crypto lender BlockFi to pay $100M to settle with SEC, states

The company agreed to stop selling its interest-bearing account in the U.S. and launch a new one tailored to the Securities Act of 1933. Half of the settlement money will go to the SEC. The other $50 million will be split among 32 states.

By Dan Ennis • Feb. 14, 2022

CFTC chief eyes greater authority in crypto oversight

CFTC Chair Rostin Behnam asked a Senate panel for an extra $100 million and the authority to police the cash market for digital assets, in addition to its traditional role overseeing derivatives.

By Robin Bradley • Feb. 10, 2022