Payments


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    sefa ozel via Getty Images

    Regulatory challenges more prominent in eyes of fintech industry leaders this year

    Private firms are adopting a more defensive posture, delaying new funding rounds, planning for modest growth and addressing regulatory risks, according to a report.

    By Nov. 23, 2022
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    Spencer Platt via Getty Images

    JPMorgan’s crypto wallet trademark is approved

    The green light comes more than two years after the bank submitted paperwork to the U.S. Patent and Trademark Office, and runs counter to CEO Jamie Dimon’s opinion on virtual currencies.

    By Nov. 22, 2022
  • Trendline

    Fraud and AML in banking

    Peer-to-peer payments, crypto platforms, ESG investment vehicles and COVID-era relief programs continue to be sources of fraud-related frustration.

    By Banking Dive staff
  • Close shot of the U.S. Capitol dome against the bright blue sky.
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    Brendan Hoffman via Getty Images
    Column

    Can Congress come together on crypto?

    Perhaps even a divided Congress can make bipartisan headway in crafting a regulatory framework for crypto following FTX’s failure.

    By Lynne Marek • Nov. 18, 2022
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    Permission granted by Andy Gerit

    Visa names its next CEO

    The card network’s president, Ryan McInerney, a former consumer-banking chief at JPMorgan Chase, will succeed Al Kelly on Feb. 1.

    By Lynne Marek • Nov. 18, 2022
  • bear market illustration for crypto winter
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    Nuthawut Somsuk via Getty Images
    Tracker

    Cryptexodus: A running list of crypto execs who’ve quit since May

    The crypto market has been volatile since spring. While some executives have run for the hills, others have opted to transition to back-seat roles.

    By Nov. 14, 2022
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    Alex Wong via Getty Images

    Sam Bankman-Fried steps down as FTX CEO amid bankruptcy filing

    FTX.com’s assets were frozen in the Bahamas, where the company is headquartered. Crypto lender BlockFi also paused withdrawals because of its exposure to FTX.

    By Nov. 11, 2022
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    Green Dot

    Green Dot focuses on tech modernization amid leadership shakeup

    The company named a CFO, COO and chief revenue officer, and said two BaaS partners recently extended their contracts.

    By Nov. 11, 2022
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    Maja Hitij via Getty Images

    Elon Musk wants to turn Twitter into ‘the people’s financial institution’

    During a Thursday call with Twitter staff, Musk shared his plans to allow users to maintain a cash balance on the platform. He also hinted at the possibility of offering loans.

    By Nov. 11, 2022
  • founder of ftx sam bankman-fried
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    Craig Barritt via Getty Images

    Binance to acquire rival FTX amid ‘liquidity crunch’

    FTX founder Sam Bankman-Fried announced the deal two days after Binance CEO Changpeng Zhao said he’d dump his holdings of FTX native coin FTT.

    By Nov. 8, 2022
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    Anna Hrushka/Banking Dive

    A CBDC could make cross-border payments faster, safer: NY Fed

    Researchers designed a prototype digital currency and blockchain and simulated foreign exchange spot transactions that cleared within 10 seconds but said the study doesn’t endorse a CBDC or assume the Fed will issue one.

    By Nov. 8, 2022
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    crbellette via Getty Images

    FedNow gives fee holiday in 2023

    The Fed reiterated the fees the banks will ultimately charge — namely, customer credit transfer and customer credit transfer return fees of $0.045 per-item and a participation fee of $25 per routing transit number per month.

    By Lynne Marek • Nov. 7, 2022
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    Mario Tama via Getty Images

    Goldman launches digital asset classification system

    Datonomy is intended to help institutional investors make sense of the new asset class.

    By Nov. 4, 2022
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    Permission granted by U.S. Bank

    CFPB investigating U.S. Bank over pandemic-era unemployment payments

    The bank is the latest lender to face regulatory scrutiny over its administration of the payments. Bank of America was handed a $225 million fine in July after regulators said its efforts to tamp down fraud went too far.

    By Nov. 3, 2022
  • The photo shows cannabis plants growing in a greenhouse.
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    Drew Angerer via Getty Images

    Safe Harbor to buy cannabis banking, payments fintech

    The deal will add 300 accounts to Safe Harbor’s portfolio and expand the firm’s operations to more than 30 states.

    By Nov. 2, 2022
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    Gabrielle Saulsbery/Banking Dive

    Here’s what Brett Harrison expects in the crypto market

    The "decade of free money" is ending, but the future is bright, said the former president of FTX US. 

    By Oct. 27, 2022
  • Consumer Financial Protection Bureau Director Rohit Chopra with his hand raised while speaking.
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    Win McNamee via Getty Images

    CFPB aims to give ‘open banking’ rule teeth in 2024

    The bureau's chief, Rohit Chopra, laid out a timeline on a rule change meant to make it easier for consumers to break up with their banks.

    By Oct. 26, 2022
  • Federal Reserve Governor Christopher Waller sits on a chair on stage.
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    Lynne Marek/Banking Dive

    FedNow will be a ‘public utility model,’ Waller says

    The central bank governor equated the nascent system with an interstate highway on which private companies will provide "on-ramps" and "off-ramps."

    By Lynne Marek • Oct. 26, 2022
  • marqeta bill pay fintech
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    Permission granted by MARQETA

    Marqeta launches demand deposit accounts in banking push

    The company's suite of seven banking products includes early wage access, bill pay and instant funding. The latter two will be available in beta next year.

    By Oct. 25, 2022
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    Federal Reserve. "FedNow Instant Payments". Retrieved from FRB Services.
    Opinion

    FedNow may stumble without nonbanks, cross-border payments

    “In addition to cross-border payments, the benefits of FedNow must be widely available to Americans through competitive, diverse providers — including nonbanks,” writes a U.S.-based Wise executive.

    By Rina Wulfing • Oct. 19, 2022
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    Craig Barritt via Getty Images

    Texas securities regulators investigate FTX, Sam Bankman-Fried

    FTX shouldn't be allowed to buy Voyager's digital assets while the regulator is looking into whether the company is illegally offering interest-bearing accounts, an enforcement official asserted.

    By Oct. 18, 2022
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    Chip Somodevilla via Getty Images

    Fintechs clamor for FedNow access

    The association representing Block, Stripe and others is asking the central bank to make access to the faster payments system more widely available.

    By Lynne Marek • Oct. 18, 2022
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    Green Dot

    Green Dot fires CEO, names replacement

    The company terminated Dan Henry, its CEO since 2020, on Friday, it said. George Gresham, the firm’s chief financial and operating officer, is stepping into the top role.

    By Oct. 17, 2022
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    Chip Somodevilla via Getty Images

    Fed’s Waller expresses skepticism on CBDC

    Launching a digital currency could introduce costs and risks that could harm the U.S. dollar's standing internationally, Waller said. The dollar’s primacy, he added, has little to do with technology.

    By Oct. 17, 2022
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    Scott Olson via Getty Images

    Warren roasts Wells Fargo’s ‘severely bad performance’ on Zelle fraud

    Four of the seven banks that own Zelle reported specific data to the senator, but she focused on Wells CEO Charlie Scharf specifically in a letter Thursday.

    By Oct. 14, 2022
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    Drew Angerer/Getty via Getty Images

    Apple to launch high-yield savings account with Goldman Sachs

    The move is the logical next step for the Apple-Goldman partnership, according to one consultant, who said the day-to-day banking product complements Apple’s Goldman-powered credit-card offering.

    By Oct. 14, 2022