Schumer says Senate Democrats will tackle executive comp, cannabis banking
In a letter to Senate Democrats, Senate Majority Leader Chuck Schumer, D-N.Y., highlights executive compensation and cannabis banking as priorities for the caucus in the coming month.
House panel prods Fed’s Powell for help with Silicon Valley Bank probe
House Oversight Committee chair James Comer, R-Ky., and financial services subcommittee chair Lisa McClain, R-Mich., asked Federal Reserve chair Jerome Powell for more information to aid their investigation into the failure of Silicon Valley Bank in March.
Need a $200 loan? Thanks to rate caps, you’re mostly out of luck.
New regulations on small-dollar lending are leaving consumers with few viable options when they need emergency access to cash.
How Goldman Sachs’ deal with Apple went sour
The tech giant wanted to put the consumer first. This meant its banking partner was always second — and taking on more risk than most card issuers at a time of economic volatility.
Key has big ambitions for its new CDFI partnership
The Cleveland-based regional bank recently announced a $20 million line of credit for Lendistry, a Los Angeles-based, minority-led community development financial institution.
Citi eyes ‘complex’ debt swaps once dominated by Credit Suisse
Citigroup executive Jay Collins says the company is “absolutely interested” in arranging new deals in the market for debt-for-nature swaps, which allow countries to restructure their debt in exchange for promises to protect the environment.
A deep dive into the tech priorities of the banking industry
We surveyed 164 professionals at banks and credit unions to find out their tech agenda for this year, including investment plans, tech priorities and thoughts on transformational tools. Here’s what we found out.
Banks line up $9.4 billion of debt for GTCR’s Worldpay takeover
JPMorgan Chase and Goldman Sachs are leading the financing, which will involve the private equity firm taking a 55% stake in the payments processor, while FIS retains the remainder.
Banks, credit unions join in push for racially equitable underwriting
Twenty lenders from across the country are participating in Underwriting for Racial Justice, a collaborative effort to develop new criteria that will enable marginalized borrowers to gain access to credit.
Thieves stole $20 Million via Revolut US payment flaw, FT says
Organized criminals exploited the issue for several months in early 2022 before the company fixed the problem, according to the newspaper.