Penny Crosman, American Banker

Penny Crosman

American Banker

New York, NY, United States

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Recent:
  • Unknown
Past:
  • American Banker
  • NationalMortgageNews
  • PaymentsSource
  • Credit Union Journal
  • Info Mgmt
  • Financial Planning
  • Insurance Networking
  • Benefit Adviser
  • Bank Inv. Consultant
  • Health Data Mgmt

Past articles by Penny:

Why are so many fintechs laying people off?

Chime, Varo, Upstart and Stripe are among the many companies that have recently laid off more than 10% of their workforce. Banks could benefit from a chance to scoop up tech talent. → Read More

HSBC deploys tech that helps it bank immigrants

The London bank is working with Nova Credit to accept immigrants' credit histories from their home countries. It also invested $10 million in the company. → Read More

Blockchain's latest financial use case: Securitizing bank debt

Angel Oak Capital Advisors has helped institutional clients buy subordinated debt with the assistance of a distributed ledger developed by Brightvine. Benefits to the issuer and investors include a central place to find all documents and automated updates when banks pay off their loans. → Read More

'We're trying to fight rhetoric with fact': Group defends online lenders

A new group called MoreThanFair aims to establish the lines between fair and unfair lending, to set best practices for the use of AI in lending and to lessen the stigma of fintech lenders. → Read More

‘We have a winner-takes-all system’: VantageScore CEO Tavares

Silvio Tavares, the credit score company’s relatively new leader, is honing its models to be more inclusive, for instance by taking into account rent payment data and bank account data. → Read More

Warning signs emerge for neobanks: ‘Doomed to not survive’

A recent report found that less than 5% of challenger banks are breaking even. Will these startups be able to achieve profitability before investors’ patience wears thin? → Read More

USAA scores mobile deposit capture patent win against PNC

The bank and insurance company continues to battle its rivals over their use of technology USAA claims it invented. → Read More

Connecticut slaps fintech Solo Funds with cease-and-desist order

The state banking commissioner criticized the online peer-to-peer lender’s tipping policies, failure to disclose tips and lack of lending and collections licenses in the state. → Read More

Most Powerful Women in Banking: Next 2022

Our annual list of the rising stars in banking and finance. → Read More

Should stablecoin issuance be confined to FDIC-insured banks?

A recent report from banking regulators says the digital assets pose too big a risk to the financial system to be issued by state-chartered entities that don’t have deposit insurance. Stablecoin issuers and others reject that claim and say regulators are discouraging competition. → Read More

Sneak peek at Wells Fargo’s mobile app overhaul

Michelle Moore, head of consumer digital at Wells Fargo, is leading development of an entirely new banking app and a virtual assistant named Fargo that will roll out next year. → Read More

What banks want most from young fintechs

The 44 large bank and insurance company partners of the Fintech Innovation Lab are inviting startups whose technology can help them manage cybersecurity threats as well as handle climate change metrics and other growing needs to join the lab's next cohort. → Read More

Blend rolls out income verification service for gig economy workers

The technology from the San Francisco loan software company will pre-populate loan applications with payroll and tax data from multiple sources. → Read More

States take lead on crypto bank charters and digital asset rules

While federal agencies debate how to regulate cryptocurrency-related businesses, Wyoming and Nebraska have already created a special-purpose charter, and Illinois is close to finalizing its own. → Read More

Coinbase makes pitch for crypto regulatory agency

The cryptocurrency exchange, which has been embroiled in a dispute with the Securities and Exchange Commission, says the federal government should create a stand-alone body to supervise the marketplace for digital assets. → Read More

Most Powerful Women to Watch: No. 2, PNC's Deborah Guild

In addition to merger work and a data center consolidation, Guild’s combined team has been busy with several major tech initiatives this year. → Read More

Bank of America says 5 million customers now use its Life Plan tool

The feature in its mobile banking app is helping the company connect with millennials and members of Gen Z, and it has led to 1 million appointments with bankers, BofA's chief digital officer says. → Read More

Stablecoin issuers say they’re unafraid of regulation

Calls are getting louder for the crypto firms to be regulated the way banks are. Here's why Circle, Paxos and Gemini, top issuers of the increasingly popular digital dollars, say they welcome new rules. → Read More

Google ends high-profile experiment in embedded banking

The tech company has abandoned plans to offer checking accounts in partnership with banks and will instead focus on being a technology provider for them. Citigroup says it will press ahead with aspects of the digital banking project on its own. → Read More

Amazon, Google, Microsoft, IBM create cloud data controls

The tech giants have been working with an industry group, the EDM Council, to craft a set of data governance best practices that companies can apply internally. An assessment and certification program will ensure that vendors abide by the same principles. → Read More