Cboe’s CEO resigns over undisclosed personal relationships
Cboe Global Markets says Edward Tilly has resigned following an investigation that determined he didn’t disclose personal relationships with colleagues. The derivatives and securities exchange has appointed Fredric Tomczyk, a current member of Cboe’s board of directors, to replace Tilly.
London fintech owner linked to drug kingpins faces Belgian money laundering trial
A London-based fintech owner accused of helping drug traffickers launder hundreds of millions of euros through a crypto exchange platform must be extradited to Belgium to face criminal charges, a London judge ruled.
Amazon develops version of cashierless tech for clothing stores
Amazon.com has developed a new version of its cashierless shopping technology for clothing retailers in an effort to expand the system beyond convenience and grocery stores.
Credit card interest rate caps are the answer to the U.S. debt crisis
A proposal by Sen. Josh Hawley to cap credit card interest rates deserves to be taken seriously, but requires far more detail than the legislative language provides.
Why U.S. Bancorp is investing in the static point of sale
As Apple and Android enable smartphones to accept payments with little setup, an exec at the bank’s Elavon unit contends countertop devices have a lot of life left.
Farm bill negotiations carry high stakes for rural bankers
Bankers largely support expanding government-backed farm loan programs, and in general support continued funding for crop insurance. But politics is making swift passage of a traditionally uncontroversial bill challenging.
Square CEO to leave; Jack Dorsey to take over
Alyssa Henry will leave Square at the end of next month after nine years, the Block unit said in a regulatory filing that became public late Monday. Square founder Jack Dorsey will once again take the reins as chief executive.
Big-bank borrowing rebound seen as sign of alarm on reserves
An increase in U.S. commercial banks’ borrowings suggests they’re uncomfortable losing any more reserves as depositors seek better returns elsewhere, according to Citigroup analysts.
What the UAW strike means for auto lenders
New-car inventories were rising after years of supply-chain woes. But the stalemate between auto manufacturers and their employees could change that dynamic — and cause knock-on effects for lenders.
Santander revamps corporate structure to simplify operations
As part of the changes, the Spanish bank is combining individual countries’ retail and commercial banking businesses under a new global unit, which will be headed by Daniel Barriuso, and creating a new digital consumer bank area that will be led by Jose Luis de Mora.