When the financial technology firm Yotta filed a lawsuit against Evolve Bank & Trust, claiming an egregious mismanagement of customer funds, it threw a spotlight on the complicated relationships among fintech companies, partner banks, and middleware firms. Yotta's complaint revolved around
The European Investment Bank (EIB), a pillar of the European Union's financial infrastructure, has recently been mired in controversy amid revelations of favoritism and alleged misuse of taxpayer funds under the leadership of Werner Hoyer. During his tenure as president, a toxic culture
Lithium Ionic Corp. has recently made a significant stride in advancing its feasibility-stage Bandeira lithium project in Brazil. The company has signed a nonbinding letter of interest with the US Export-Import Bank (EXIM) for up to US$266 million in debt financing. This development is crucial, as
In a strategic effort to bolster its wealth management sector, Standard Chartered is contemplating the sale of its wealth and retail banking units in Botswana, Uganda, and Zambia. This potential move aligns with the bank's overarching strategy to streamline its business by concentrating on
U.S. Bank is making strategic moves to bolster its capital markets and wealth businesses, aiming for significant growth in these areas. Following an investor day in September, the bank faced skepticism from analysts regarding its growth projections. Stephen Philipson, head of wealth, corporate,
The Bangko Sentral ng Pilipinas (BSP) has introduced a proposal for rule changes concerning pawnshops, aiming to expand the range of services they can offer, including roles such as money changers and gold traders. This initiative includes amendments to the Manual of Regulations for Nonbank
