Michael Roddan

In Woodhaven, Queens, beneath an elevated subway line an hour’s ride from Manhattan, sits an unremarkable bank branch, squeezed between a shuttered Rite Aid and a children’s events space that moonlights as a venue for $10 adult Zumba dance classes. A plastic banner fastened to the shop front ...

Fintech banking startup Chime is launching a new cash advance product that allows customers to access up to $500 of their wages before they are paid in a move to recruit and keep more customers as it prepares to IPO next year.Chime customers who have had two pay cycles deposited with the fintech will be able to withdraw forecast earnings without fees, interest or a credit check. A $2 fee will

Federal Deposit Insurance Corp. chairman Martin Gruenberg has resigned from the banking regulator following a scathing review of the agency’s culture and work environment.In a statement on Monday, Gruenberg said he would step down from his responsibilities once a replacement was confirmed. The announcement came shortly after chairman of the Senate Banking Committee Sherrod Brown, a Democrat,

Millions of consumers who kept their savings with digital banking startups such as Yotta or Juno have lost access to their money as a result of this month’s collapse of a little-known fintech called Synapse Financial Technologies. Synapse, which supplies some of the basic plumbing that allows startups to offer banking services, filed for bankruptcy protection in early May amid accusations from numerous onetime fintech clients and banks that tens of millions of dollars are unaccounted for.

Apple is shutting down its buy now, pay later operations that allowed customers to pay off purchases of up to $1000 in installments.Instead, Apple will offer installment loans through credit and debit cards and other lenders including buy now, pay later fintech Affirm when customers use Apple Pay, according to the company. The rollout will result in the closure of Apple Pay Later in the

Shortly after HSBC swooped on the carcass of Silicon Valley Bank in March of last year, picking up around 50 U.S. bankers and an $8 billion U.K. loan book, the London-headquartered bank’s management drew up plans to win over the biggest venture capitalists in the U.S. that had historically been SVB customers.

From left: Court Coursey, Eric Schmidt and Derek Rundell. Photos by Getty.

The former Google CEO once said Steel Perlot, founded by his then-girlfriend Michelle Ritter, could become a new kind of Y Combinator. Now Ritter blames Schmidt for the firm’s unraveling, while former employees point to Ritter’s erratic management.

Zillow leans heavily on an invite-only circle of real estate agents to send home buyers to its lending business. Critics of that arrangement say the real estate listing giant risks running afoul of mortgage lending and consumer marketing laws.

TikTok over the last year has been encouraging more creators to livestream, where they can sell products or earn digital gifts that convert to cash. To beef up its European business, it’s been trying to build out its payments functions. But these efforts have hit some snags.