Umpqua Bank to merge with Columbia Bank in $5.2B, all-stock deal
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Umpqua Bank and Columbia Bank have agreed to merge, bringing together two West Coast institutions which have a combined $43B in deposits.
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Fintech News Stories
Crypto platforms to underpin secure forms of digital identity: report
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As consumers grow wary of online sign-in methods based on social media login credentials, a report suggests blockchain-based sign-in methods associated with crypto wallets may offer a safer solution.
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Department of Justice creates team to investigate criminal misuse of cryptocurrencies
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The Department of Justice unveiled its National Cryptocurrency Enforcement Team this week, a body that will deploy cyber and money laundering expertise to go after crypto actors engaged in criminal wrongdoing.
Read MoreMoneyGram and Stellar launch instant crypto to cash transfers
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International money-transfer firm MoneyGram has entered into an agreement with blockchain network Stellar to support instant money transfers using the USD Coin (USDC) stablecoin.
Read MoreSEC Chair Gensler says a crypto ban would be ‘up to Congress’
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Securities and Exchange Commission (SEC) chair Gary Gensler told the House Financial Services Committee this week that the SEC would not follow China’s lead and ban cryptocurrencies.
Read MoreBank of America’s Life Plan feature gains more than five million users
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Bank of America announced that Life Plan – a digital financial planning tool it launched a year ago – has crossed five million users, calling it the company’s “most rapidly adopted digital feature of all time.”
Read MorePostal banking pilot launches in four cities as USPS explores financial services
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The U.S. Postal Service is launching a pilot program in four cities in an effort to deliver financial services to underserved Americans.
Read MoreStarling Bank to launch embedded finance APIs for European clients
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Starling Bank, a U.K.-based digital bank, says it will launch a technology offering called “Starling-as-a-Service” for European clients next year.
Read MoreUK neobank Monzo pulls US bank charter application
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U.K.-based digital bank Monzo pulled its U.S. bank charter application after it was told by regulators it wasn’t likely to be approved.
Read MoreICYMI: Google pulls back on bank-account plans
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Google, which had planned to launch bank accounts under the Plex brand, announced it was abandoning the initiative in favor of “digital enablement for banks and other financial services providers.”
Read MoreRobinhood popularity takes a hit after meme stock fad fades
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Activity on stock trading app Robinhood plunged during the third quarter of this year, a development that may be connected to the end of the meme stock fad.
Read MoreSquare partners with TikTok to help sellers reach more customers
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Square, a company that focuses on payments and banking for businesses, announced an integration with social media platform TikTok, allowing sellers on the Square platform to reach more customers.
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MoneyLion’s stock value takes a nosedive after public debut
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Last week, MoneyLion, a digital challenger bank, merged with a special purpose acquisition company (SPAC) and began trading on the New York Stock Exchange.
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