The Fed needs to be more careful with its ‘money printer’
The central bank massively increased the money supply during the pandemic. We paid the price with high interest rates throttling the real estate industry.
Truist shrinkage, Fiserv charter: Top banking news for January 2024
In this month’s roundup of top banking news: Truist Financial announces plans to shutter 4% of branch network, Fiserv pursues a special-purpose bank charter, Wells Fargo distributes a $1,000 bonus to lower-paid employees and more.
New York Community’s shares sink 35% amid real estate stress
The parent company of Flagstar Bank surprised investors by slashing its dividend, charging off two large real-estate loans and preparing for more trouble in the office and multifamily sectors.
Amex’s fintech gameplan, SEC hack: Top tech news for January 2024
In this month’s roundup of popular tech news: SEC responds to successful hack on its X account, community banks get closer to fintech hubs, the Office of the Comptroller of the Currency weighs in on Blue Ridge Bancshares and more.
Mastercard: bad weather and election volatility may weigh on spending
U.S. consumers remain healthy despite several factors that weigh on their spending, said CEO Michael Miebach.
India orders Paytm Payments Bank to stop conducting business
The Reserve Bank of India on Wednesday ordered Paytm Payments Bank, a unit of One 97 Communications, to stop its popular mobile wallet business along with other activities, citing persistent non-compliance and supervisory concerns.
Visa extends FIFA pact, Canadian firms build tech for open banking
Visa will be the payment partner for the 2026 World Cup and other events, companies in Canada are teaming up to promote open banking for credit unions, and more.
Earned wage access and advances on pay are very different products
The risk of harm to users’ financial health is much greater with direct-to-consumer advances than it is from earned wage access programs.
Jack Dorsey’s Block cuts jobs to achieve cap of 12,000 staffers
The company declined to give specific details on how many jobs were affected. It has sought to rein in costs amid efforts to boost earnings.
How banks can capitalize on the shift to employee-owned businesses
Experts predict the number of small businesses turning to an employee-ownership model will accelerate in the coming years. The would mean opportunities for banks that advise on such transitions.