The Federal Deposit Insurance Corp. (FDIC) has recently heightened regulatory scrutiny on banks involved in banking-as-a-service (BaaS) partnerships with fintech companies, with Piermont Bank and Sutton Bank receiving notable enforcement actions in early 2024. These actions indicate significant
In what could mark a significant move towards accountability within the banking sector, the Federal Deposit Insurance Corp. (FDIC) is seriously contemplating filing lawsuits against former executives and directors of Silicon Valley Bank (SVB). This decision is centered on allegations of severe
In a concerning trend, the private banking sector in Bangladesh has witnessed a substantial increase in bad loans from September 2023 to September 2024. This period saw defaulted loans jump by an alarming 171%, soaring from Tk 29,645 crore to Tk 80,573 crore, according to data from the central
ConnectOne Bank, a New Jersey-based financial institution, has recently made a significant move in the mergers and acquisitions (M&A) realm by acquiring The First of Long Island Bank. Under the leadership of CEO Frank Sorrentino III, ConnectOne aims to strengthen its regional influence and grow its
Fifth Third Bancorp has taken a significant step in the embedded finance and Banking-as-a-Service (BaaS) sectors with its acquisition of Rize Money in 2023. Newline, an offering born from the integration of Rize's technology and Fifth Third’s established payment network, represents a strategic
The financial technology sector is at a pivotal juncture, facing challenges like a dip in venture funding and regulatory hurdles, yet remaining poised for significant growth. Despite these obstacles, fintech continues to flourish, with revenues projected to surge from $320 billion to $1.5 trillion
