Category: News

August 11, 2023

Revolut confirmed this week that from 2 September, its US customers will no longer be able to place buy orders for crypto with the bank, with access due to be fully disabled from 3 October. Speaking to FinTech Futures, a […]

August 1, 2023

Truck freight volume and spending in the second quarter of 2023 declined by the highest levels since the early days of the pandemic, the latest U.S. Bank Freight Payment Index revealed. Spending by shippers dropped 10.9% compared to the second […]

July 28, 2023

While bank merger and acquisitions activity in the U.S. is at historic lows — the slowest pace since 2009 — there are deals getting done. Additionally, banks are positioning themselves for when the market improves. Until then, the deals that […]

July 21, 2023

As more and more customers take to online banking services, Virgin Money says it has seen “far less visits” to its brick and mortar branches, with most people only visiting to discuss significant life events. “The decision to close a […]

June 23, 2023

The acquisition is expected to close in Q3 2023, subject to customary closing conditions, with JP Morgan Securities acting as exclusive financial advisor to Robinhood. X1, which rolled out to the public last year following a $25 million Series B […]

June 12, 2023

At least five high-profile Credit Suisse executives are leaving the company, UBS said in a memo Monday — the day UBS’s acquisition of the smaller Swiss bank closed. Credit Suisse’s CFO, Dixit Joshi, is out, along with the bank’s investment-banking […]

May 30, 2023

Goldman Sachs is considering another round of job cuts amid a muted dealmaking environment that has dented revenues across Wall Street. The investment bank is working on what would be its third round of job cuts in under a year, […]

May 26, 2023

TD plans to open 150 U.S. branches by 2027 and double its hiring of wealth advisers, CEO Bharat Masrani told listeners Thursday during the bank’s quarterly earnings call. The move may quell any notion that the bank would be licking […]

May 17, 2023

In a statement released on 12 May, Binance said it was “joining other prominent crypto businesses in proactively withdrawing from the Canadian marketplace”. “Unfortunately, new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market […]

May 15, 2023

The day Silicon Valley Bank failed on March 10, the bank paid out millions in bonuses to senior executives for its 2022 performance, according to the Federal Reserve’s April postmortem analysis and the bank’s proxy statement. Those bonuses were paid […]

May 9, 2023

The most notable move will see Credit Suisse CEO Ulrich Körner join the group’s executive board upon completion of the takeover, which the firm anticipates will officially close “in the next few weeks”. Körner spent 11 years at UBS before […]

May 1, 2023

JPMorgan Chase agreed Monday to assume most of First Republic Bank’s assets, along with its deposits and certain liabilities in a sale orchestrated by the Federal Deposit Insurance Corp. The deal was finalized overnight after California’s Department of Financial Protection […]

April 27, 2023

Binance.US says it has made the “difficult decision” to terminate the $1.022 billion deal, which was initially announced at the end of last year, citing “the hostile and uncertain regulatory climate” in the US as its reason for pulling out, […]

April 20, 2023

Citi’s bulked-up tech headcount lends credence to its announcement last June that it intended to hire 4,000 tech employees to move its institutional clients online. Mason last year said the bank needed to offset “past underinvestment in our businesses.” That, […]

April 19, 2023

GreenSky, a fintech lender and buy now, pay later (BNPL) provider, was acquired by Goldman in September 2021 in a $2.24 billion deal as it looked to furnish its Marcus banking app with the platform’s capabilities. However, Goldman Sachs folded […]

April 19, 2023

Bank of America has cut 1,000 jobs so far this month and plans to cut another 3,000 by the end of June, according to figures it disclosed during a quarterly earnings call Tuesday. The bank’s headcount dropped to 216,000 on […]

April 18, 2023

Federal Reserve Chair Jerome Powell recently testified before Congress on the current state of the US economy. In addition to monetary policy, Powell was questioned about the Fed’s regulatory proposals regarding cryptocurrencies and climate-related financial risks. Barely mentioned, however, was […]

April 14, 2023

In the German town of Ratingen, exploding cash machines are a hot-button topic. Two got blown up early on the same morning last month, at branches of Santander and Deutsche Bank across the street from each other close to the […]

April 14, 2023

Brazil’s leftist president began a visit to China on Thursday by taking a swipe at the U.S. dollar and asking why the group of leading emerging economies known as BRICS could not use a currency other than the greenback to […]

April 12, 2023

U.S. Bank announced several changes to its executive leadership team today to succeed two leaders who are leaving the company this summer. “We are proud of our longstanding history of attracting, developing and supporting talented leaders who position us for […]