PayPal

The payments company submitted applications to the Utah Department of Financial Institutions and the Federal Deposit Insurance Corp. to create PayPal Bank. If approved, Mara McNeill, the former president and CEO of Toyota Financial Savings Bank, will serve as PayPal Bank's president.

After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.

Dozens of companies, including Google and PayPal, met with OCC officials last year in part to discuss obtaining a new fintech charter, but many ultimately decided not to pursue it, according to sources. Here's why.

The findings of a new survey suggest that banks risk becoming irrelevant unless they match the speedier processes that are a key selling point for online lenders.

Affirm, which for six years has plied its trade as a point-of-sale lender, wants to move deeper into banking by offering a high-rate savings account.

Some were sold at discounted prices, while others were shut down by their acquirers or quietly ceased doing business.