Why digital bank Varo wants a national bank charter

"I think Varo is going to play a fairly historic role in reshaping the American banking landscape," the company's CEO, Colin Walsh, told Banking Dive at this week's Money20/20 conference in Las Vegas.

By Anna Hrushka • Oct. 31, 2019

Green Dot, Walmart renew prepaid card deal, launch fintech accelerator

The agreement ensures Green Dot will remain the issuing bank behind MoneyCard through 2027. About 35% of the fintech's second-quarter revenue came from sales at the retail giant's stores.

By Dan Ennis • Oct. 30, 2019

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

Majority CEO: The future of banking is specialized

"Banks need to figure out their place in the value chain ... And I think that's where you're going to see winners emerging," Majority CEO Magnus Larsson said.

By Anna Hrushka • Oct. 30, 2019

Ondot aims to give smaller banks 'Apple Card-like' success with Card App

Fintech partnerships can help community banks go high-tech while staying high-touch, an ICBA executive says.

By Anna Hrushka • Oct. 29, 2019

FDIC's regulatory framework 'ripe for revisiting,' chair McWilliams says

"If we have rules and regulations that we have not touched internally for 10 years or more, open them up to procurement," she recalled telling the FDIC in taking the role.

By Anna Hrushka • Oct. 23, 2019

ICBA launches 'Wake Up' campaign in ongoing fight against credit unions

The Credit Union National Association has criticized the campaign, issuing a statement refuting many of the ICBA's claims.

By Anna Hrushka • Oct. 22, 2019

JPMorgan Chase expands effort to hire people with criminal backgrounds

The U.S. loses $78 billion to $87 billion a year by excluding people with criminal records from the workforce, according to the bank's research.

By Anna Hrushka • Oct. 21, 2019

Wells Fargo must offer 66 jobs to applicants it rejected in 2014

The bank also must pay $603,612 in back wages, benefits and interest in a settlement with the Labor Department alleging racial and gender discrimination.

By Dan Ennis • Oct. 21, 2019

Affirm launches mobile app for payment installments

The payment platform is targeting credit card-averse millennials and Gen Z shoppers ahead of the holiday season.

By Tatiana Walk-Morris • Oct. 18, 2019

Chime outage keeps customers from accessing cash

Galileo, the platform that powers Chime, told Banking Dive it is working to restore Chime's mobile app, "which is currently unavailable or slow to respond." Chime's card services have since been restored.

By Anna Hrushka • Oct. 17, 2019

Mortgage banking boosts U.S. Bank's Q3 profits

Strategic investments in loan officers and its digital platform have contributed to the growth of U.S. Bancorp's mortgage arm, the company's CFO said.

By Anna Hrushka • Oct. 17, 2019

PNC’s revenue is growing, but profits are flat amid expansion

The bank has expanded into 10 new cities, rolled out a digital retail bank last year and opened retail locations, or "solution centers," in Kansas City, Missouri, and the Dallas area.

By Anna Hrushka • Oct. 17, 2019

Bank of America prioritized internal cloud. Now it's evaluating third-party providers

"We don't need to own the hardware, we just need to find out who can provide the right way," said CEO Brian Moynihan.

By Naomi Eide • Oct. 17, 2019

11% boost in North America card revenue buoys Citi's earnings

The card segment's growth stands as somewhat of a relief after the bank lowered its expectations on net interest income. Expenses also are up slightly as the company continues to cut jobs.

By Dan Ennis • Oct. 16, 2019

$2.1B charge dents Bank of America Q3 profits

The bank said a one-time impairment charge related to the end of its tie-up with payment-processing company First Data caused a drop in net income.

By Anna Hrushka • Oct. 16, 2019

Wells Fargo earnings suffer on $1.6B legal charge

The nation's fourth-largest bank is in transition, with a new CEO stepping in Oct. 21.

By Dan Ennis • Oct. 15, 2019

JPMorgan Chase jumps to record revenue on consumer banking gains

Profit for the bank’s consumer unit, which includes home loans, auto loans and consumer credit cards, rose 5% to $4.27 billion.

By Anna Hrushka • Oct. 15, 2019

Most Americans still have reservations on going cashless, survey finds

Emergencies were the No. 1 reason respondents said they carry cash (60%), followed by small purchases (50%), tips (42%) and to manage their finances (20%), the J.D. Power report found.

By Anna Hrushka • Oct. 14, 2019

Digital bank eyes US immigrant market with unlimited money transfers

Remittance fees for Majority's customers are covered in its $5 monthly membership fee.

By Anna Hrushka • Oct. 11, 2019

HSBC to cut 10K jobs: report

The staff reduction comes amid conflicting reports regarding the future of the bank's French retail arm, and after HSBC announced in August that it was shedding 4,700 positions.

By Anna Hrushka • Oct. 7, 2019

Wells Fargo CEO pick marks crucial step to restoring confidence

Charlie Scharf's stint at BNY Mellon shows he has the gravitas and experience to turn around a bank that has hemorrhaged consumer trust, an analyst tells Banking Dive.

By Anna Hrushka • Oct. 3, 2019

Community banks won't survive without tech innovation, FDIC chair says

The agency's Tech Lab aims to collaborate with smaller financial institutions on how to deploy technology to better serve customers.

By Anna Hrushka • Oct. 2, 2019

Wells Fargo names BNY Mellon's Charlie Scharf CEO

The appointment ends a six-month search that began after former CEO Tim Sloan resigned from the scandal-plagued bank in March.

By Anna Hrushka • Sept. 27, 2019

House OKs landmark cannabis banking bill

If the Senate also passes the SAFE Banking Act, it would be a major win for the cannabis industry and banks that want a piece of a market that could grow to $41 billion by 2025, according to data firm Nielsen.

By Anna Hrushka • Sept. 26, 2019

Kabbage founders aim to connect small businesses, gig influencers

Drum has the potential to serve as a pipeline for startups to which Kabbage could lend.

By Dan Ennis • Sept. 24, 2019