Goldman Sachs waives March payments for Apple Card users

Apple and Goldman Sachs are continuing to allow payment deferrals in April, but Apple Card customers who took advantage of the March program must re-enroll, the tech giant said.

By Kate Patrick Macri • Updated April 2, 2020

Former PayPal, Intuit CEO launches digital bank targeting middle-class families

Bill Harris said the San Francisco-based startup will serve a demographic that hasn't had its needs adequately met by traditional banks or the current fintech offerings that are available in the market.

By Anna Hrushka • March 17, 2020

Explore the Trendline➔

Artificial intelligence

The heavily regulated banking sector rarely gets to trailblaze. But with AI, an all-in mentality is fueling both research and adoption.

By Banking Dive staff

The novel coronavirus impact on the banking industry

The banking industry is central to the global economy's stability. Follow Banking Dive's coverage of the pandemic here.

Updated March 18, 2020

Major US banks halt share buybacks in response to coronavirus pandemic

The forum called the COVID-19 pandemic “an unprecedented challenge for the world and the global economy,” and said the U.S.’s largest banks have an “unquestioned ability and commitment” to support the nation. 

By Anna Hrushka • March 16, 2020

FDIC to issue proposed rulemaking on ILCs at next board meeting

While the FDIC has not approved an ILC applicant in more than a decade, Square Capital and Japanese e-commerce company Rakuten have pending applications with the FDIC.

By Anna Hrushka • March 13, 2020

Aion CEO: Global uncertainty works in favor of subscription-based digital bank

The subscription model creates a relationship that helps build a sense of stability for consumers looking for a banking partner.  

By Robert Freedman • March 13, 2020

Fed injects $1.5T into Wall Street as regulators, lawmakers respond to coronavirus

Some analysts welcomed the move, but said a fiscal stimulus from Congress is also needed.

By Anna Hrushka • March 13, 2020

Former Wells Fargo board members defend scandal response in House hearing

Betsy Duke and James Quigley said they were shocked and troubled when they first learned of the bank’s misconduct, but both told the panel they had done all they could to steer the bank in the right direction. 

By Anna Hrushka • March 11, 2020

Wells Fargo's long, winding path to recovery

March 11, 2020

Maxine Waters calls for DOJ probe into former Wells Fargo CEO's 'false statements'

Tim Sloan, who led the scandal-plagued bank from October 2016 to March 2019, resigned shortly after testifying at a House hearing over the bank’s widespread consumer abuses.

By Anna Hrushka • March 11, 2020

Report: Banks risk 5% loss in revenue to fintechs if they don't change

Banks' use of hidden fees that leverage consumers' money mismanagement is hurting them on trust, but they have an opportunity to change that, an Accenture report finds.

By Robert Freedman • March 11, 2020

Wells Fargo CEO: 'Broken' culture led to consumer abuse scandals

Scharf told lawmakers Wells Fargo’s structure was "problematic," and company leadership failed its stakeholders. "Our culture was broken, and we did not have the appropriate controls in place across the company," he said.

By Anna Hrushka • March 10, 2020

Credit Sesame launches digital bank to capitalize on expense management

Sesame Cash — the company's new digital banking service — aims to compete with both traditional banks as well as other digital platforms. 

By Kate Patrick Macri • March 10, 2020

Fifth Third charged with opening fake accounts

The alleged practice by the large Midwestern bank resembles the incentive scheme that recently cost Wells Fargo a $3 billion fine.

By Robert Freedman • March 10, 2020

Robinhood trading app experiences 3rd outage in 8 days as stocks plunge

It’s been a rough week for Robinhood and its users as the platform’s recent outages coincide with historic trading days.

By Anna Hrushka • Updated March 27, 2020

Wells Fargo board members Duke, Quigley resign following House report

Resignations come ahead of Wednesday’s House Financial Services Committee hearing, where the board members are expected to testify regarding their previous response to a series of consumer abuse scandals.

By Anna Hrushka • March 9, 2020

Why lenders still love retail, bankruptcies and all

Asset-based loans are a safe and popular form of financing for lenders. But for distressed retailers it can be a "trap."

By Ben Unglesbee • March 9, 2020

Remitly banks on trust as it expands financial services for immigrants

"We have a track record in the communities we serve where we built a really trusted financial services brand," Remitly co-founder and CEO Matt Oppenheimer said. 

By Anna Hrushka • March 6, 2020

U.S. Bank to take over State Farm banking operations

The insurance giant will be getting out of the banking business, which it's been in virtually since 1999. 

By Robert Freedman • March 6, 2020

House report slams Wells Fargo, regulators' failure to rein in 'reckless' bank

The report claims regulators knew about "serious, enterprise-wide deficiencies" without taking public enforcement action, and the bank’s board "failed to ensure management could competently address the company’s risk management deficiencies."

By Anna Hrushka • March 5, 2020

Wells Fargo to launch accounts that limit overdraft fees

Wells Fargo’s announcement about the new accounts comes ahead of the bank’s back-to-back hearings in front of the House Financial Services Committee.

By Anna Hrushka • March 4, 2020

Kabbage takes aim at big banks with its small-business cash flow tools

The company's sweet spot for making its tools available is a customer with fewer than 10 employees whose owners are "wearing 15-20 hats to run a company," a company executive said.

By Kate Patrick Macri • March 4, 2020

Coronavirus could hit fintechs hard as card transactions drop

Fintechs’ reliance on the fees merchants pay when consumers make credit and debit purchases will be tested as people stay home. 

By Robert Freedman • March 4, 2020

Stock trading app Robinhood suffers system outage during market rebound

The outage came as the market rebounded from its worst week since the 2007-08 financial crisis, amid the coronavirus outbreak.

By Anna Hrushka • March 3, 2020

Fed announces rate cut as US banks respond to coronavirus threat

As regulators convene to discuss COVID-19's economic impact, U.S. banks are implementing precautions such as travel restrictions and virtual events.

By Anna Hrushka • Updated March 3, 2020