Coastal Community Bank launches virtual world
The online game, CoastalWorld, introduces players to the bank’s fintech and neobank partners.
Citi signals consequences for flouting return to office
While the vast majority of staffers are following the firm’s rules for hybrid work, the moves are focused on those employees with persistent, unexplained absences.
Banking news roundup
Aite-Novarica, RBR rebrand as ‘Datos Insights’; Singapore fines DBS, Citi for breaches in Wirecard scandal; the top-ranked employers for working fathers on Wall Street and more in this week’s banking news roundup.
Fed terminates enforcement actions against Commerzbank’s U.S. arm
The German bank’s New York branch was entangled with U.S. regulators and law enforcement agencies for more than a decade in connection with money laundering and sanctions violations.
Joint Press Release: Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
JOINT PRESS RELEASE | JUNE 23, 2023 Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency____________________________________________________________ Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies Federal bank regulatory agencies today made available the 2023 list of distressed or underserved nonmetropolitan middle-income geographies. The Community Reinvestment Act (CRA) […]
California-based CDFI accused of mischaracterizing its borrowers
A former employee of The Change Company, which is the largest non-traditional mortgage lender in the U.S., claims in a new lawsuit that the firm mischaracterized the race, ethnicity and income of its borrowers. The company says the allegations, which relate to the representations it makes to be certified as a community development financial institution, […]
JPMorgan starts euro blockchain payments for corporates
JPMorgan Chase expanded one of the most high-profile projects to bring blockchain technology to traditional banking, introducing euro-denominated payments for corporate clients using its JPM Coin.
The big names that got backstop for billions in uninsured SVB deposits
Some of the firms include Sequoia Capital, the world’s most prominent venture-capital firm, which got covered for the $1 billion it had with the lender. Kanzhun Ltd., a Beijing-based tech company that runs mobile recruiting app Boss Zhipin, received a backstop for more than $900 million.
Why Amazon is pushing more payment functions to the cloud
The firm’s web services unit is applying hosted technology to parts of transactions that take place behind the scenes in an attempt to reach smaller merchant acquirers.
It’s time to take action to address the U.S. housing crisis
We have the tools to address our housing challenges through a mix of regulatory reforms, policy changes, incentives and investment. What’s needed is the will and leadership to put those tools to work.