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In recent months, nonbanks have been applying for banking charters.
Against a backdrop where de novo activity has been muted through the past several years, regulators have been moving to ease the bank application process. In a speech earlier this year, FDIC Acting Chairman Travis Hill said that since the start of 2010, the total number of new banks formed over 15 years is 86, which averages to...
FreshDirect, which has been an online grocer since 2002, is set to open its first physical retail location.
The company’s FreshDirect on Main will be a pop-up store on Main Street in Southampton, New York, and will be open from Memorial Day weekend through the end of December, FreshDirect said in a Thursday (May 22) press release.
“Designed to evoke the charm of a classic farmers market, the...
Monarch Money has raised $75 million in a Series B funding round to continue growing its financial wellness platform.
The company will use the new capital to add to its team and expand the breadth of the platform, Monarch Money Co-founder and CEO Val Agostino wrote in a Friday (May 23) blog post.
“We strongly believe that everyone — no matter where they’re starting — can improve their financial...
After years of skepticism, traditional finance is not just dipping a toe into crypto. It may just be preparing to swim.
That’s what is being implied by the news Thursday (May 22) that several of the United States’ largest banks are quietly planning a collective leap into the world of cryptocurrency. JPMorgan Chase, Bank of America (BofA), Wells Fargo and Citigroup are exploring the launch of a...
The European Commission is reportedly looking into fees charged by Visa and Mastercard in a move that could lead to a formal probe.
The competition regulator sent requests for information to market participants last week, asking about fees they impose on financial institutions that provide services to retailers using the Visa and Mastercard networks, Bloomberg reported Friday (May 23), citing...
The largest Hardee’s franchisee in the United States is harnessing artificial intelligence and data-driven insights to improve efficiency and customer satisfaction, which are key drivers of success in the fast-paced world of quick-service restaurants.
Boddie-Noell Enterprises said customers want their orders taken correctly, food served hot and fresh, and then to go quickly on their way,...
Walmart said Thursday (May 22) that it opened its largest centralized prescription fulfillment facility and plans to add two more.
The new Central Fill pharmacy location is in Frederick, Maryland, and two other facilities are expected to open in 2026 in Phoenix, Arizona, and Republic, Missouri, the company said in a Thursday press release.
The Maryland site is 102,000 square feet in size and will...
It’s a safe bet that stablecoins will become more mainstream within everyday commerce and in commercial settings.
Legislation is moving through Congress that would establish frameworks for issuers, and banks are exploring a consortium approach to create an interoperable stablecoin.
The market cap of these coins now tops $249 billion, according to CoinMarketCap.com. Tether is the largest of the...
Department store chain Dillard’s sued Wells Fargo on Thursday (May 22), alleging that the bank breached a co-branded credit card relationship that has since ended.
Dillard’s alleges that this breach cost it tens of millions of dollars, Reuters reported Thursday, citing a “heavily redacted complaint” filed in Manhattan federal court.
Neither Dillard’s nor Wells Fargo immediately replied to PYMNTS...
R3 and Solana Foundation have partnered to bring regulated real-world assets onto a public blockchain.
This collaboration will bring together R3’s private enterprise blockchain, which is used by regulated financial institutions, and the Solana public mainnet, the organizations said in a Thursday (May 22) press release.
The combination of their capabilities will help regulated financial...