It has been a lean legislative session in Congress for fintech. But this week some progress was made on earned wage access.
Banking as a Service (BaaS) continues to be in the crosshairs of the federal government.
The latest banks to be hit with consent orders from the FDIC are Sutton Bank and Piermont Bank.
The fintech soap opera that is the Synapse saga took another turn yesterday.
We learned less than three weeks ago that TabaPay was acquiring Synapse out of bankruptcy. Now, that deal appears to have fallen apart as disagreements between Synapse, Evolve Bank and Trust and Mercury remain unresolved.
Binance, as a surprise to no one, finds themselves the subject of a Reuters exclusive alleging they commingled customer funds with corporate accounts.
Twitter/X has been going state-by-state obtaining money transmitter licenses. The social media platform is now approved in 12 states.
In the kickoff to the Holiday shopping season, consumers are spending, with retail sales up 1.1% and e-commerce sales up 8.5% according to Mastercard SpendingPulse.
While check usage has been in decline for years, for many businesses it is still a primary method of payment.
According to the Federal Reserve we processed over three billion commercial checks in 2023 valued at over $8 trillion.
Overdraft revenue is on the decline, but recent filings show that JPMorgan Chase and Wells Fargo remain by far the largest generators of the controversial fees.
Here is another use case for generative AI. BNPL giant Klarna is using Gen AI to run marketing campaigns and generate images.
There have been quite a few fintech startups in recent months that have pivoted to B2B from B2C (Tally, HMBradley, Onyx Private for example), but we haven't seen any fintechs go in the other direction until Mercury announced their personal banking product today.