The company's closure comes in a year when it touted successful capital investments but also faced growing legal scrutiny.

The Financial Stability Oversight Council's annual report underscores mounting challenges in commercial real estate, escalating cyber threats, and regulatory gaps in third-party services and stablecoins, urging stronger oversight and legislative action.

The two companies will retain ties as Daniel Wallace moves to an operational leadership position at a time when non-agency mortgage opportunities are opening up.

As it gets ready for more competition from VantageScore, the company also did not comment on reports of yet another impending price hike.

The company, which helped consumers strategize their credit card payments and pivoted to a B2B model earlier this year, has sold its intellectual property two months after it folded.

Companies announced new product rollouts and capital raises last month, but some are also facing lawsuits as the industry encounters heightened attention to the lack of consumer protections.

Federal Reserve Gov. Lisa Cook called for weighing the costs and benefits of artificial intelligence, and flagged bias and fraud as areas of concern.

The company has signed an agreement to sell Continental Finance its entire card portfolio.

The banks are testing quantum computing's ability to speed up applications, to alleviate bottlenecks and to do more while consuming less power.

Federal Reserve Gov. Michelle Bowman said a lack of banking experience among regulatory officials has led to unintended consequences. She flagged mergers, fintech partnerships and liquidity proposals as prime examples.