Technology

Sen. Sherrod Brown, D-Ohio, chairman of the Senate Banking Committee, told Synapse's partner banks, fintech companies and investors to pool together resources to immediately restore customer's access to deposits frozen in lengthy bankruptcy proceedings.

In this edition of American Banker's news quiz, test yourself on the Synapse bankruptcy, the growth of alleged violations of the Fair Credit Reporting Act, Funding Circle's sale of U.S.-based assets and more.

The Tennessee bank is the latest to be punished for lapses in oversight of fintech partners. Unlike most FDIC consent orders, the filing liberally uses the terms "fintech" and "BaaS."

The trade groups said Friday that a proposed rule from CISA would burden firms with overly broad reporting requirements as they scramble to respond to incidents.

The company says the FDIC's "pause letters" to banks and denial of Freedom of Information Act requests are illegal.

The real test of the value of investments in artificial intelligence and other tech upgrades is the generation of measurable value across a bank's lines of business.

The Consumer Federation of America and Consumer Reports sent a letter to the Consumer Financial Protection Bureau urging it to require banks to search for less discriminatory models. Later the same day, the CFPB issued a report saying it's doing just that.

Leaders that have created virtual "branches" weighed in at American Banker's Digital Banking conference on how to approach implementation and what results have been like.

Evolve Bank & Trust acknowledged the ransomware group published customer data from the bank, but the number of affected people remains unclear.

Ransomware group LockBit threatened on Sunday to publish the stolen data Tuesday evening. Ransomware experts said it was likely that the group was bluffing.