FTX, Alameda alums raise $17 million for crypto exchange startup
A group of former FTX and Alameda Research employees plan to use the venture money to build out a cryptocurrency exchange called Backpack. It’s one of the startups seeking to fill a gap left by the collapse of Sam Bankman-Fried’s crypto empire.
BNP clients are piling ESG billions into money market funds
BNP Paribas Asset Management says its ESG clients have been moving into money market funds in reaction to volatility in the market.
House Democrats urge bank regulators to crack down on bank mergers
Rep. Maxine Waters, ranking member of the House Financial Services Committee, led the letter, spurred by the recent merger announcement between Capital One and Discover, which the letter said would enable the merged company “to influence multiple points of the marketplace.”
Samsung may add payments to smart ring, Amazon gets a license in India
Samsung has launched the Galaxy Ring, a wearable device that might support Samsung Pay, while Amazon has received a payment aggregator license in India.
What’s on deck for American Banker’s Payments Forum?
Will AI erase jobs? How can you jumpstart a stagnant career? And what’s the latest with real-time transaction processing? The industry’s top executives will gather on March 27 and 28 in Hollywood, Florida, to dive into these issues and many others.
The CFPB must take the opportunity to lead on consumer data security
The Consumer Financial Protection Bureau needs to do more to enhance security while making it easier for consumers to share data.
A flip on a COVID theme: Digital payments become physical
Legal and accounting firms accustomed to accepting payments online during the pandemic are moving back to accepting in-person payments, with a modern twist.
Flattening rates fail to bring in mortgage borrowers
Loan volumes fell for the third straight week, with depressed demand for government lending driving activity downward, the Mortgage Bankers Association said.
Bank of America escrow case met with skepticism in Supreme Court
Some legal experts say the U.S. Supreme Court justices appeared to favor national rules preempting state regulations in the Bank of America in a case regarding mortgage escrow accounts.
20 bank M&A deals with the largest target asset volume in 2023
The top five bank M&A deals had a combined target asset volume of more than $480 billion