The SEC was right to call Binance’s geofencing bluff
The allegation that Binance encouraged the use of location-obscuring technology so that it could illegally serve U.S. clients is a symptom of a broader problem for financial services companies.
ECB urges banks to speed up plans to exit or shrink Russia units
The European Cental Bank recently urged banks it supervises “to speed up their downsizing and exit strategies by adopting clear road maps” and regularly reporting on progress, according to Andrea Enria, who leads the ECB’s supervisory board.
Startup launches cross-border debit account with FDIC insurance
The fintech Zepz has added a new remittance method with an FDIC-backed mobile bank account.
U.S. Bank adds AI to business travel payments as competition heats up
The bank’s subsidiary TravelTech is countering the many fintechs that are entering its market market.
New bank capital requirements may move faster than the speed of regulation
The heads of the Federal Reserve and Federal Deposit Insurance Corp. say upcoming capital proposals won’t be implemented for years, but banks tend to move fast to get ahead of upcoming changes.
Banks’ climate disclosures are incomplete, misleading: Report
Measurements of financed emissions are currently plagued by differing methodologies and time lags in corporate climate disclosures, according to a new report by an environmental advocacy group.
Re-rebranding: TIAA Bank will again be EverBank following latest sale
The name change is being timed to the closing of the bank’s sale to investors later this summer. Following an earlier acquisition, the bank’s name was changed from EverBank to TIAA Bank in 2018.
Recession fears overshadow credit unions’ strength in auto loans
The category shifted into high gear during the first quarter, but experts predict a severe slowdown based on a growing number of economic concerns.
PacWest sells loans to Ares as private-credit firms circle banks
Private equity and private credit shops are among the few firms with the capital and appetite needed to buy sizable amounts of consumer assets originated by bigger banks.
Voice cards, video calls: 5 innovations in accessibility and banking
JPMorgan Chase, Regions Financial and TD Bank Group are among those deploying technology to level the playing field for customers of varied abilities.