April 1, 2024

In a display of the United States’ jurisdictional reach, the Justice Department has indicted KuCoin, a prominent global cryptocurrency exchange, along with founders Chun Gan and Ke Tang, for Bank Secrecy Act (BSA) and unlicensed money transmission offenses. The indictment […]

April 1, 2024

Citi’s energy clients include companies predominantly related to oil and gas production, but also include bioenergy, carbon capture, utilization and sequestration, direct air capture hydrogen and renewable energy, according to its 2021 Task Force for Climate-related Financial Disclosures report. Its […]

March 29, 2024

I was genuinely surprised when a friend of mine – one of the fintech OGs – recently said he had loaded a bank card onto his phone’s pay app for the first time. He was taking his first tentative steps […]

March 28, 2024

Treasury Secretary Janet Yellen said she expects insurers’ payouts to help cover some of the costs of rebuilding the Baltimore bridge that collapsed earlier this week. “My expectation would be that, ultimately, there’ll be insurance payments in part to cover […]

March 28, 2024

Central Bank states that the move will enable it to deliver goal-oriented savings and wellness programmes to its digital users, offer real-time personalised financial advice and introduce an improved money management hub. Daniel Westhues, executive VP and CMO at Central […]

March 27, 2024

The Manchester-headquartered bank says a consultation for the proposed job cuts has now commenced, with the action expected to impact 12% of its total workforce. “The decision has not been made lightly, and the bank will continue to work closely […]

March 26, 2024

The Justice Department lawsuit against Apple suggests banks have been victims of Apple’s antitrust infractions, noting that fees the banks must pay when consumers use credit cards are “a significant new cost.” “Apple has charged issuing banks 15 basis points […]

March 25, 2024

Founded in 2020, the start-up has three co-founders: Smeetha Ghosh (CEO), Brad Whittfield (CFO), and Gups Jutla (COO). Cashee describes itself as “a banking and financial education platform” and says it’s “empowering youth to create better money habits”. Once launched, […]

March 22, 2024

Minnesota homeowners insurance complaints rose 108% from 2020 to 2023, with of those complaints from homeowners concerned their claims were denied or they faced high out-of-pocket costs after damage from wind and hail. The Minnesota Department of Commerce (DOC) shared […]

March 21, 2024

The U.S. Securities and Exchange Commission this week said it settled charges against two investment advisers related to “AI washing.” The firms, Delphia Inc. and Global Predictions Inc, will pay a total of $400,000 in civil penalties for making false […]

March 20, 2024

JPMorgan Chase has created a “sports investment banking coverage group” aiming to offer advisory and financing solutions for potential investors in athletic franchises, Reuters reported Tuesday, citing an internal memo. “Sports has become an increasingly large asset class, attracting more […]

March 19, 2024

Two fintechs, Biz2Credit and Womply, agreed to pay a collective $59 million to settle allegations they deceived small businesses seeking Paycheck Protection Program loans during the COVID-19 pandemic, the Federal Trade Commission said Monday. Biz2Credit and its subsidiary, Itria Ventures, […]

March 18, 2024

This analysis begins with a look at some of those that did it first. Although a well-established retailer and grocer, it would take 78 years for British supermarket Tesco to tap the financial services market, a push led by the […]

March 18, 2024

UBS aims to expand its wealth management business in the U.S. through potential M&A activities within the next three to four years, Chair Colm Kelleher told the the Swiss NZZ newspaper Sunday, according to Reuters. Since its acquisition of Credit […]

March 14, 2024

The Office of the Comptroller of the Currency fined JPMorgan Chase $250 million Thursday, and the Federal Reserve added a $98.2 million penalty, asserting the bank failed to adequately monitor client trading activities for market misconduct between 2014 and 2023. […]

March 14, 2024

For the report, Consumer Reports evaluated the mobile banking apps of five large traditional banks: Bank of America, Capital One, JPMorgan Chase, U.S. Bank and Wells Fargo, as well as those of five digital banks: Albert, Ally, Chime, Current and […]

March 14, 2024

The U.S. dollar experienced a slight dip on Wednesday, although its descent was cushioned by an uptick in U.S. Treasury yields. In any case, FX volatility remained subdued as traders appeared to refrain from taking large directional positions ahead of […]

March 12, 2024

The latest trading session saw U.S. Bancorp (USB) ending at $43.21, denoting a -0.71% adjustment from its last day’s close. The stock’s change was less than the S&P 500’s daily gain of 1.12%. At the same time, the Dow added […]

March 11, 2024

In a statement on the company’s website, Oxygen says it officially commenced the “account closure process” on 8 March, with both consumers and business users being informed that their accounts will be closed on 29 March. The firm adds that […]

March 8, 2024

The ruling has lowered the charge from its previous figure of $32, in a move that the regulator hopes will save account holders more than $14 billion a year while axing what it describes as business models founded on “penalties, […]