The American Fintech Council (AFC), a leading industry association representing responsible fintech companies and innovative BaaS banks, has announced Raido Capital Partners as its newest strategic partner. Raido, founded by tech entrepreneurs with over two decades of experience, brings a unique expertise to the fintech ecosystem and will serve as a crucial resource for AFC members.
In response to the housing affordability crisis characterized by high interest rates, soaring home prices, and low supply, Chase Home Lending is stepping up its efforts to support potential homebuyers. The financial institution is enhancing its financial resources and educational programs for homebuyers, including a significant increase in its Closing Guarantee from $5,000 to $20,000.
Bank of America Corporation has announced its intention to redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series JJ and the corresponding depositary shares each representing a 1/25th interest in a share of the Series JJ Preferred Stock. The bank also stated that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series U and the corresponding Depositary Shares, each representing a 1/25th interest in a share of Series U Preferred Stock.
The U.S. Supreme Court recently issued its ruling in the closely watched Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA) case, which challenged the CFPB’s independent funding mechanism through the Federal Reserve. The American Financial Services Association, along with other trade groups, participated in an amicus brief arguing that the Bureau’s “funding scheme is historically unique.”
Leaders from the conservative movement have expressed their opposition to the Durbin-Marshall Credit Card Bill, following a joint hearing last Thursday by the Consumer Financial Protection Bureau (CFPB) and Department of Transportation on credit card and airline rewards programs. Senators Roger Marshall and Dick Durbin are accused of using the Biden Administration against American companies that oppose their proposed government mandates on credit cards.
In the wake of a recent Supreme Court ruling, Rebeca Romero Rainey, President and CEO of the Independent Community Bankers of America (ICBA), has issued a statement regarding the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) funding structure.
A significant number of prospective homebuyers are apprehensive about the long-term financial implications of renting, according to a new report by Bank of America. The Homebuyer Insights Report (HBIR), conducted in partnership with the Bank of America Institute, reveals that 70% of respondents feel they're not making a long-term investment in their future by renting, while 72% worry that rent increases could affect their current and long-term finances.
New York, NY – May 14, 2024 – Chase for Business, a leading financial services provider for small businesses, today released findings from its latest survey indicating continued optimism among small business owners and their growing willingness to invest in digital solutions. The recent survey was conducted among a diverse sample of small business owners across various industries to understand their challenges and expectations for growth in the coming months.
Washington, D.C. — Several of America's banks and credit unions have urged the Federal Reserve to rescind its proposal to update Regulation II (Reg II). The plea was made in a comment letter submitted by the Bank Policy Institute, American Bankers Association, America’s Credit Unions, Consumer Bankers Association, Independent Community Bankers of America, Electronic Payments Coalition, Mid-Size Bank Coalition of America, National Bankers Association and The Clearing House Association.
Bank of America has announced that it recently became aware of an unsolicited "mini-tender" offer by Tutanota LLC (Tutanota) to its shareholders. The offer proposes the purchase of up to 1 million shares of Bank of America common stock at $40.00 per share. This price is conditioned on the closing price per share of Bank of America's common stock exceeding $40.00 per share on the last trading day before the offer expires.
Washington, D.C. — America’s banks and credit unions have urged the Federal Reserve to rescind its proposal to update Regulation II (Reg II) in a comment letter submitted today. The joint letter was submitted by the Bank Policy Institute, American Bankers Association, America’s Credit Unions, Consumer Bankers Association, Independent Community Bankers of America, Electronic Payments Coalition, Mid-Size Bank Coalition of America, National Bankers Association and The Clearing House Association.
Electronic Payments Coalition Executive Chair Richard Hunt issued a statement on the value of credit card rewards following a joint hearing held by the Consumer Financial Protection Bureau (CFPB) and the Department of Transportation (DOT). The hearing, requested by Senators Roger Marshall (R-Kan.) and Dick Durbin (D-Ill.), focused on credit card and airline reward programs.
The Bank Policy Institute (BPI) has submitted a statement to the U.S. Senate Banking Committee for a hearing on fees in financial services. The statement explores the numerous ways that banks support businesses and consumers by making financial services safe and accessible.
American Banker recently published an op-ed by American Bankers Association’s (ABA) Rob Nichols, America’s Credit Unions’ Jim Nussle, and Independent Community Bankers of America’s (ICBA) Rebeca Romero Rainey on the harm of the proposed Durbin-Marshall Credit Card Bill. The trade association leaders warn of negative consequences for consumers, community banks, and credit unions if Congress enacts proposed routing mandates on credit cards, urging lawmakers to prioritize consumer interests over corporate mega-stores looking to increase their bottom lines. Together, ABA,...
The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, is proud to announce the inaugural AFC Awards to be presented at the 8th Annual Fintech Policy Summit at The Westin Washington, D.C. City Center on Tuesday, November 19th. The Policy Summit continues to be the premier destination for regulatory thought leadership and industry best practice. This year’s Summit is set to be the largest fintech policy event since inception, bringing together prominent industry leaders, regulators, policymakers,...
"Naidich Wurman LLP Responds to SEC Complaint on Behalf of Power Up Lending Group Ltd., Geneva Roth Remark Holdings, Inc., 1800 Diagonal Lending, LLC, and Curt Kramer"
Fortis Bank, a high-growth commercial bank serving small- to medium-sized privately held businesses in Colorado and Utah, has appointed Michele Sauk as Market President for the Utah Market. Sauk, a seasoned leader with over two decades of experience in strategic planning and client relationship management, is known for driving innovation and fostering growth in the banking and financial services industry.