Banking

Truist Bank has agreed to pay licensing fees to USAA for the use of mobile-check-deposit technology that USAA says it invented.

Chubb's Banks and the Digital Wallet Race: The Embedded Insurance Strategy looks to gauge how fintechs and banks view embedded insurance.

M&T Bank, Truist Financial and Eastern Bankshares are among the banks that have sold all or part of their insurance subsidiaries over the last year. Though the price is right, analysts warn that when interest rates decline, sellers will be without a key source of fee income.

In the six states where credit score matters the most, a driver with no credit pays on average 94% more for car insurance than a driver with exceptional credit.

In the five states where credit score matters the least, a driver with no credit pays on average just 11% more for car insurance than a driver with outstanding credit.

The top five cities in the ranking have an average total score of 64.06.

The card network has agreed to pay USAA licensing fees for the use of mobile deposit capture technology. USAA says it plans to keep trying to get other banks to do the same.

The top five cities in the ranking have an average total score of 61.78.

Banks are holding their fintech partners to a higher compliance standard as regulatory scrutiny of banking-as-a-service increases.

The Federal Deposit Insurance Corp. issued a cease-and-desist order to Unbanked, Inc. — a cryptocurrency-focused nonbank — for making false claims about FDIC deposit insurance coverage on its crypto-related products Friday.

The Consumer Financial Protection Bureau, the Treasury Department and the Department of Health and Human Services released a request for comment on medical debt financing products. At the same time, the White House said that the agencies will explore whether efforts to sign up customers are breaking the law.

Decision-making algorithms powered by machine learning are seen as the next frontier for a more nuanced approach to mortgage decisions but skeptics worry this will just be a new way to discriminate.

New loan acquisitions fell to their lowest level since 2020, but companies also grew shares of residential securities noticeably over the past three years, S&P Global Market Intelligence said.

Robert Trunzo, who has led TruState since 2014, will retire in October. The company, previously called CUNA Mutual Group, hired Terrance Williams to replace him.

Fintech VC funding flooded into consumer-focused companies in 2021. Now, the tides are changing direction.

The intersection of fintech and ag banking is still ripe for innovation. Banks and fintechs are looking for specialized solutions for their ag customers, from harvesting data to managing cash flow fluctuations.

Meow and Vesto are two firms that help companies invest idle funds in safe instruments such as Treasury bills.

Researchers at the Federal Reserve Bank of Philadelphia have come up with a plan for letting banks innovate with artificial intelligence and widening access to credit at the same time.

Joe Evica, who has been employed with the Wisconsin-based insurance firm since March 2019, was terminated on April 4 for allegedly violating company policies.

As a result of the banking collapse, we can see more clearly the vulnerable areas where tech companies could sharpen risk management.