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

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

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

House lawmakers spar over stablecoin regulation

"Simply labeling something as stable or overly relying on a one-to-one ratio does not, in itself, mean it maintains a stable value," House Financial Services Committee Chair Maxine Waters, D-CA, said Tuesday.

By Jonathan Berr • Feb. 9, 2022

Fiserv to pay $650M to buy the rest of Finxact

Finxact's cloud-native system will allow Fiserv to offer clients more modern and personalized account processing and payments offerings. But the deal sees Fiserv continue to sharpen its services while swallowing smaller fintechs.

By Caitlin Mullen • Feb. 8, 2022

Digital transformation will drive growth and expand the ecosystem

There are immense opportunities for financial services providers aligning their products and services with digital—and limitations for those who are behind on embracing digital transformation.

Feb. 7, 2022

Boston Fed, MIT publish first phase of CBDC research

Researchers released the code for the project on GitHub to allow outside developers to help enhance it. Phase 2 may explore cybersecurity concerns such as the balance between user privacy and transparency.

By Dan Ennis • Feb. 4, 2022

Fintech Amount buys Linear for $175M

The purchase offered an "opportunity to pair Amount's consumer banking solution and buy-now, pay-later technology with Linear's small business banking solutions," Amount's CEO said.

By Caitlin Mullen • Feb. 2, 2022

UBS to buy Wealthfront in $1.4B US wealth-management push

The deal, slated to close after June, gives the Swiss bank 470,000 new clients, $27 billion in assets under management from the fintech, and an entry point to millennials and Gen Zers with $250,000 to $2 million.

By Dan Ennis • Jan. 27, 2022

Walmart fintech buys earned wage access firm Even in 'super app' pursuit

Former Goldman Sachs exec Omer Ismail will serve as CEO of the combined business, which includes One Finance, a digital financial services company the retailer also bought Wednesday.

By Lynne Marek • Jan. 27, 2022

JPMorgan buys 49% stake in Greek fintech Viva Wallet

The U.S.'s largest bank is continuing an acquisition spree it accelerated in 2021, when it made more than 30 deals — many either banking-adjacent or outside banking entirely.

By Dan Ennis • Jan. 25, 2022

H&R Block launches challenger bank Spruce

The tax-preparation company last March teased its desire to offer digital checking and savings accounts. Spruce marks H&R Block's second foray into banking after it surrendered its charter in 2015.

By Robin Bradley • Jan. 21, 2022

Fed's long-awaited CBDC report arrives

The 40-page paper makes no policy recommendations but rather lays out concerns — particularly, security — and benefits, such as access for the unbanked, and is designed to elicit feedback over a 120-day comment period.

By Jonathan Berr • Jan. 21, 2022

Creating new revenue streams with personalized one-to-one messaging

One-to-one messaging is the most effective way to engage, retain and grow your business resulting in better relationships and revenue.  

Jan. 18, 2022

Santander finds itself in a Citi moment with $175M error

In looking to claw back duplicate payments, Santander may find varying levels of cooperation from other banks. The incident may also prompt regulators to examine the lender's risk management framework and history.

By Dan Ennis • Jan. 5, 2022

NCUA OKs crypto partnerships for credit unions

"Financial services has always been 'adapt or die,'" Kyle Hauptman, the regulator's vice chair, told CoinDesk. "I don't want credit unions to go the way of Blockbuster Video because we, the regulators, prevented innovation."

By Robin Bradley • Jan. 4, 2022

Morgan Stanley, Capital One's old errors cause new headaches

The banks, collectively, agreed to pay $250 million to settle class-action lawsuits connected to data breaches for which the Office of the Comptroller of the Currency levied penalties in 2020.

By Dan Ennis • Jan. 4, 2022

5 banking trends to watch in 2022

A reversal on in-office work from a hard-liner like Goldman Sachs may represent a pivot point in the acceptance of remote policies. But other narratives, such as small-scale niche M&A, mark a continuation from 2021.

By Dan Ennis , Anna Hrushka , Robin Bradley • Jan. 4, 2022

Community banks form payments network to compete with Zelle: report

Community bank innovation consortium Alloy Labs Alliance will manage the network in partnership with Payrailz, a digital payments company, Forbes reported.

By Anna Hrushka • Dec. 20, 2021

Banking group drops OCC suit after Figure updates charter application

"We still feel like the law would have come out on our side ... but we just don't want to continue to wait," the fintech's general counsel said of its decision to seek deposit insurance.

By Anna Hrushka • Updated Jan. 14, 2022

Crypto custody firm Anchorage Digital raises $350M in $3B valuation

The company's latest raise comes as the firm is ramping up its strategy to partner with financial institutions that want to provide their clients with custody services for their digital assets.

By Anna Hrushka • Dec. 15, 2021

SVB acquires research firm MoffettNathanson

The deal caps months of focus on growing the company's investment-banking arm. SVB began the year expanding into wealth management, with a January deal to acquire Boston Private Financial Holdings.

By Dan Ennis • Dec. 14, 2021

Wells Fargo to use HSBC's blockchain tech to settle forex transactions

Through the arrangement, the banks will sidestep CLS, a Federal Reserve-regulated third party, to settle matched foreign-exchange transactions in U.S. and Canadian dollars, euros and British pounds.

By Robin Bradley • Dec. 13, 2021

'Relevant banking' increases banks' bottom line through personalization

Improve the ability to personalize services, create distinctive omnichannel experiences, and innovate rapidly.

Dec. 13, 2021