Younger consumers falling behind on debt; Zelle, Plaid, Ginnie Mae

Younger consumers falling behind faster on loan payments: New York Fed: About 3% of borrowers in their 20s and 30s became seriously delinquent on their credit card payments last quarter, significantly faster than older consumers. The picture was similar in auto lending, according to research by the Federal Reserve Bank of New York .

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Nominations are now open for the Most Powerful Women in Banking and Finance 2023.

Small banks, credit unions drive Zelle participation up 40%: Early Warning? said it made significant traction in signing up smaller participants in 2022, as 70% of the 500 financial institutions that went live on Zelle's peer-to-peer network last year have less than $1 billion of assets.

Are shaky nonbanks putting Ginnie Mae at risk?: Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.

Plaid partners with Okta to ease banks' onboarding process: The move is designed to give banks and credit unions a clearer path to connecting with Plaid without screen scraping or password sharing.

Green Dot seeks a middle ground with cash users: Prepaid card issuer Green Dot Corporation is working with the electronic billing company Paymentus to appeal to consumers who want to make digital payments without opening a mainstream bank account.

Read more: Our banking, fintech and credit union layoff tracker tallies which companies are shedding workers.