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Visa and Plaid call off $5.3bn merger after US regulatory pressure

January 13, 2021

Category: Regulations

The US Department of Justice (DOJ) filed a civil antitrust lawsuit against the merger back in November. It alleged that Visa’s reason for acquiring Plaid was to take a future competitor out of the market. Now all parties have all […]


Bank Stock Roundup: USB, JPM, WFC & TFC in Focus on Restructuring Initiatives

January 8, 2021

Via: Yahoo

Over the past four trading sessions, performance of major bank stocks depicted a bullish picture. This optimism primarily seems to be driven by the hopes of more economic stimulus as the U.S. Congress confirmed Joe Biden’s victory in the Presidential […]


2020 review: A year which saw fintechs cut jobs, pay & business arms

December 29, 2020

Alternative lenders struggled through long accreditation processes and dried up reserves, before eventually taking on loans which carry the potential risk of high default rates. Neobanks could no longer rely on interchange fees as a main source of income, prompting […]


Activity, Investment Banking

Strong Investment Banking to Support BofA (BAC) Q4 Earnings

January 18, 2021

Via: Yahoo

Performance of investment banking (“IB”) business, one of the key revenue sources of Bank of America BAC, is likely to have been impressive in fourth-quarter 2020. Hence, this is expected to provide much needed support to the bank’s results, scheduled […]


Products, Retail Banking

US banks must lose “legacy anchor” to meet customer needs in 2021

January 18, 2021

Via: FinTech Futures

COVID-19 has become a catalyst for an acceleration amongst the everyday banking customer. ValuePenguin data shows 71% of US banking customers now regularly use online banking. What’s more, footfall in the branch has dipped, as customers stay away from personal […]


Activity, Investment Banking

JPMorgan beats profit estimates on better-than-expected credit, record trading revenue

January 15, 2021

Via: CNBC

JPMorgan Chase on Friday beat analysts’ estimates for fourth-quarter profit on record trading results and a boost from releasing money previously set aside for loan losses. The bank posted earnings of $3.79 a share, exceeding the $2.62 per share estimate […]


Activity, Investment Banking

Citigroup beats analysts’ profit estimates as bank releases money set aside for loan losses

January 15, 2021

Via: CNBC

Citigroup on Friday posted fourth-quarter results that beat analysts’ estimates for profit as the firm joined rival JPMorgan Chase in releasing reserves for loan losses. Citigroup said earnings fell 7% to $4.63 billion, or $2.08 a share, compared with the […]