Category: Finance

Dive Brief: Although the U.S. led fintech funding in the fourth quarter of last year with $3.9 billion, or about a third of global funding, that was a 79% drop from the fourth quarter of 2021, when U.S. fintechs pulled in $18.2 billion in venture funding, according to data released Wednesday from research firm CB Insights. […]

The proposed merger between Columbia Banking System and Umpqua Holdings received the last regulatory green light it needed to become final, the companies said Monday. The Federal Deposit Insurance Corp. (FDIC) approved the $5.2 billion transaction, which the banks now expect to close by the end of February, they said. Columbia and Umpqua extended the […]

If CargoSprint founder and CEO Joshua Wolf were to do it all over again, he would have hired an in-house counsel earlier in his company’s life cycle, although that still might not have prevented the legal turmoil he and his company have yet to see the end of.  Wolf’s company, which provides software for companies […]

Dive Brief: Amazon will expand “Buy with Prime” to all U.S. merchants by Jan. 31, allowing Prime members to shop on outside websites, using their saved checkout details and accessing Prime benefits like free delivery and returns. The option launched in April last year by invitation only. The e-commerce giant also launched Reviews from Amazon, […]

Crypto exchange Coinbase is making a third round of workforce cuts in the past seven months, this time affecting around 950 employees. The cuts amount to 20% of its staff and were announced Tuesday in a blog post by CEO Brian Armstrong. Armstrong attributes the cuts to the downturn in the crypto market and “the fallout […]

When 2022 began, five of the Federal Reserve Board of Governors’ seven seats were subject to change. One constant through that: Each candidate, in their respective hearings on Capitol Hill, fielded questions regarding the central bank’s role and limitations concerning climate change and related risk. As if to set the record straight at the start […]

In a pair of C-suite appointments over the past week, Eagle Bancorp named Jay Namputhiripad as its chief risk officer (CRO), while Kim Olson will take the CRO role at SVB Financial, the parent of Silicon Valley Bank. Namputhiripad brings with him 23 years of experience in the risk and compliance field and will succeed […]

Innovation in payments will charge ahead in 2023, though not in the same way it has in the past few years. With venture capital firms tightening purse strings and startups floundering, legacy players are likely to pick off some industry small fry. Meanwhile, other fintechs may close down amid challenging economic conditions, including rising borrowing […]

Dive Brief: In a filing with the Securities and Exchange Commission Monday, PayPal said its chief accounting officer, Jeffrey Karbowski, has resigned to take a job with another company and will exit Feb. 10. He has been hired by the streaming company Netflix, according to a report in Variety. In his wake, PayPal’s Acting Chief […]

In predicting hot spots for the year ahead, sometimes it’s worth seeing what was written a year ago. While some of early 2022’s concerns — COVID-related ones, perhaps — seem of their time, others surprisingly grew legs. When Banking Dive included crypto on its list last year, the paramount concern seemed how to regulate it. […]