July 21, 2024
OCC: Banks Unprepared for Cyberattacks and Other Risks

A U.S. banking regulator has reportedly determined that many lenders aren’t prepared for risks. As Bloomberg News reported Sunday (July 21), a confidential assessment by the Office of the Comptroller...

July 19, 2024
Fifth Third Earnings Focus on Liquidity and Payments Innovations

This quarter’s bank earnings, like the macro environment, have been mixed and unpredictable. And the ongoing theme of controlling for what’s controllable held true for Fifth Third Bancorp executives, who told investors during...

July 18, 2024
CFPB Says Earned Wage Access Programs Are Consumer Loans

Regulators are painting several types of lending products with a broad brush, bringing an ever-widening swath of lenders under federal purview. Fresh off its rulemaking on buy now, pay later...

July 18, 2024
Lloyds Forms Direct Lending Partnership With Oaktree Capital

Lloyds Bank and Oaktree Capital Management have teamed to support U.K. “middle-market sponsor-backed borrowers.” The collaboration, announced Thursday (July 18), will see Lloyds’ structured debt finance team work with Oaktree’s...

July 16, 2024
Predictive AI Company SymphonyAI Aims for 2025 IPO

Artificial intelligence firm SymphonyAI is reportedly planning to go public next year. The company, whose predictive and generative AI tools can help financial services firms spot fraud and retail companies...

July 16, 2024
Ocado Sees Consumers’ Embrace of Online Grocery Return

Ocado CEO Tim Steiner said his company is benefitting from a resumption in online grocery buying. Consumers have gone back to eGrocery following a post-pandemic rise in brick-and-mortar buying, Steiner...

July 16, 2024
Real-Time Payments: The Cash Flow Spice Every Restaurant Needs

Since the pandemic’s onset, the restaurant industry has been navigating turbulent waters. Just as social distancing and stay-at-home orders receded, in swept inflation and other economic hardships. Restaurant sales are...

July 15, 2024
Goldman Sachs Unit Invests in Plaid, Databricks Company Stakes

Venture capital (VC) firm NEA has reportedly created a $540 million continuation vehicle that has drawn as investors Goldman Sachs Group’s alternatives unit, Industry Ventures, Pathway Capital Management and Goanna...

July 15, 2024
Citi Names Barclays Vet James Morris as UK Commercial Banking...

Citi has a new head of commercial banking (CCB) for the United Kingdom. James Morris, a 25-year veteran of British banking giant Barclays, is expected to take on that role...