Mastercard, Visa step back from Binance card partnerships
Mastercard and Visa stepped back from their card partnerships with Binance Holdings, distancing themselves from the cryptocurrency platform that’s under threat from regulators worldwide.
NCUA greenlights record-setting credit union membership expansion in Florida
The National Credit Union Administration approved Dade County Federal Credit Union’s application to add almost 2 million more potential members — beyond what had been permitted for any credit union’s expansion previously.
Affirm’s debit card growth sparks more consumer borrowing
Half of the transactions on the buy now/pay later lender’s new plastic card become interest-bearing loans.
Press Release: FDIC Makes Public July Enforcement Actions; One Administrative Hearing Scheduled for September 2023
PRESS RELEASE | AUGUST 25, 2023 FDIC Makes Public July Enforcement Actions;One Administrative Hearing Scheduled for September 2023 WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in July 2023. There is one administrative hearing scheduled for September 2023. The FDIC […]
Don’t whitewash the history of bank regulators’ abusive practices
An effort to ensure banking services are available to legal businesses is being undermined by groups trying to rewrite the history of regulatory overreach related to supposed reputational risk.
12 countries with the most fintech financings so far in 2023
The top three countries have 861 combined fintech financings through June 2023.
Failed merger and federal investigation weigh on TD’s earnings
After terminating a $13.4 billion acquisition of First Horizon in May, TD Bank disclosed a federal investigation of its anti-money laundering controls during the bank’s third-quarter earnings.
Jan. 6 subpoena highlights tension between data privacy and compliance
House Republicans’ accusation that government agencies are being weaponized against political conservatives underlines a longstanding challenge for banks: Balancing customers’ data privacy and stopping financial crime.
RBC faces tough questions after bad quarter at LA-based City National
The company’s U.S. banking unit, which focuses on wealth management, reported a $38 million quarterly loss. Executives said they’re cutting staff in an effort to right the ship, but analysts questioned whether the expense cuts are aggressive enough.
Zillow Offers 1% down payment to lure struggling homebuyers
The program is even lower than Freddie Mac’s best of 3%, with Zillow offering to pay 2% of the down payment at closing, according to a statement Thursday.