November 10, 2023
Via: YahooThe Military Times named U.S. Bank number No. 3 on its annual Best for Vets: Employers list, which rates the best employers for veterans in the United States. U.S. Bank has appeared on the list each year since the Military […]
November 9, 2023
Via: FinTech FuturesThe round also saw existing investor Dubai Investments acquire an additional 7.68% equity stake in the challenger, increasing the group`s holding in the bank from an initial 9.25% to 16.93%, subject to regulatory approvals. While the latest funding has taken […]
Activity, News, Retail Banking
November 9, 2023
Via: FinTech FuturesThe programme serves purchasers and owners of General Motors vehicles, enabling them to earn rewards on their spending through the GM credit card. Goldman Sachs beat out a small number of bidders, including Barclays, in October 2020 to purchase the […]
November 8, 2023
Via: Banking DiveUnder the order, Citi will pay $1.4 million to harmed consumers along with a $24.5 million penalty. “Citi purposefully discriminated against applicants of Armenian descent, primarily based on the spelling of their last name,” CFPB Director Rohit Chopra said in […]
November 8, 2023
Via: Banking DiveNearly half of the Commodity Futures Training Commission’s enforcement actions in fiscal 2023 were related to digital assets, including against crypto companies and crypto-tied “individual Ponzi schemers,” the regulator said Tuesday. Through 47 total crypto-related enforcement actions, the CFTC “cemented […]
November 8, 2023
Via: Banking DiveBluevine on Wednesday announced the launch of Bluevine Premier, a high-yield checking account for small-business owners that offers a 4.25% annual percentage rate on balances up to $3 million. The offering pairs a high return with cash flow flexibility, two […]
November 7, 2023
Via: FinTech FuturesThe offering pairs “overlooked and underserved” founders and C-Suite executives with an OakNorth business partner, who will collaborate with the client to understand their business needs and goals, and provide tailored information on what the bank can offer. The product […]
November 6, 2023
Via: JD SupraOn October 24, 2023, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (together, the “Agencies”) released their final Principles for Climate-Related Financial Risk Management for Large Financial Institutions (the […]
November 6, 2023
Via: Banking DiveU.S. Bank and KeyBank could be among the next round of financial institutions to be hit with penalties from regulators’ ongoing probes into employees’ use of WhatsApp and other messaging platforms to conduct official business, according to the banks’ most […]
November 6, 2023
Via: Banking DiveCiti is considering trimming its headcount in several major units by at least 10% as the firm embarks on a corporate overhaul it announced in September, according to CNBC, which cited sources familiar with the matter. The New York City-based […]
November 3, 2023
Via: FinTech FuturesThe news follows the recent arrival of Alex Chriss as PayPal’s new president and CEO on 27 September 2023. Deskus, who brings more than two decades of technology experience to the role, joined PayPal in March 2022 as executive vice […]
November 2, 2023
Via: FinTech FuturesThe bank’s “long-term” shareholders, BBVA, Toscafund and Infinity Investment Partners, took part in the private capital raise. The trio of investors previously enabled the bank to secure £105 million in funding last year across two capital raises. Atom says the […]
Capital and Risk, Macroeconomic
November 1, 2023
Via: YahooDuring the third quarter, the amount spent to ship goods via truck freight was down 12.5% compared to a year prior while the volume of shipments was off 9.7%, according to the U.S. Bank Freight Payment Index. Spending fell 4.2% […]
November 1, 2023
Via: FinTech FuturesClaudio de Sanctis, the bank’s head of private banking, confirmed that the number of Postbank branches would be whittled down to approximately 300 during an interview with the Financial Times this week. Of the 300 remaining locations, 100 are expected […]
Activity, Investment Banking, Regulations
November 1, 2023
Via: Banking DiveThe Securities and Exchange Commission is investigating the cash sweep options Wells Fargo provides to investment advisory clients at account opening, the bank disclosed in a regulatory filing on Tuesday. Wells Fargo Advisors offers a sweep feature with three options […]
November 1, 2023
Via: Payments DiveThe Federal Trade Commission will require non-banking financial institutions to report data breaches and other events related to cybersecurity, the agency announced Friday. The amendment to the FTC’s Safeguards Rule would require non-banking financial institutions like mortgage brokers, motor vehicle […]
October 31, 2023
Via: FinTech FuturesA filing made with the Stock Exchange of Thailand this week by K-Bank president Pipit Aneaknithi shows that the acquisition has been made through Unita Capital, the bank’s fully owned subsidiary and investment arm for digital asset companies. Satang Corporation […]
October 31, 2023
Via: FinTech FuturesThe proposals specifically seek to determine whether interchange fees for processing a transaction are “reasonable and proportional to certain issuer costs”. It forms the most significant update to the cap since the Reserve first implemented restrictions on debit card issuers […]
October 31, 2023
Via: DailyFXThe index has recovered from the lows seen last week, after nearing the 200-day SMA. For the moment, the pullback from the October highs is still in place and leaves the bearish view intact for the short-term. A close above […]
October 30, 2023
Via: FinTech FuturesNamed Paze, the new service will be offered by participating financial institutions in a bid to deliver an improved payment experience for consumers shopping online and fend off the growing advances of Big Tech giants in the financial services space. […]