The United Kingdom’s Financial Conduct Authority (FCA) announced Tuesday (March 16) it had commenced criminal proceedings against National Westminster Bank Plc (NatWest) for violation of money laundering regulations. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
FinTech platform upSWOT, which works to help financial institutions service small- to medium-sized businesses (SMBs), has come off a seed round with $4.3 million, a Monday (March 15) press release said. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Banks set aside billions of dollars to cover expected losses due to the economic collapse triggered by the pandemic. But the worst-case scenarios did not materialize, which means some of that cash can now be turned into profits, The Wall Street Journal reported on Monday...
The CHIPS network from The Clearing House now accepts new payment messages as late as 6 p.m. Eastern Time effective Monday (March 8) instead of the previous 5 p.m. EST deadline, according to an announcement. Get the Full Story Complete the form to unlock this...
Operations were frozen at Greensill Bank after Germany’s Federal Financial Supervisory Authority (BaFin) filed a criminal complaint against the financial startup, the Financial Times reported on Wednesday (March 3). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
The biggest German lenders, Deutsche Bank and Commerzbank, are shying away from larger deposits, according to The Wall Street Journal (WSJ) on Monday (March 1), as they try to avoid negative interest rates. Get the Full Story Complete the form to unlock this article and...
Square is now operating its state-chartered industrial bank, Square Financial Services, in Utah after the state’s Department of Financial Institutions gave it the green light, according to a press release emailed to PYMNTS. Get the Full Story Complete the form to unlock this article and...
J.P. Morgan Chase has committed $350 million over the next five years to help Black, Latinx and women-owned small businesses recover from the COVID-19 pandemic and grow beyond it. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
J.P. Morgan Chase is launching an investment product specifically to support Black-owned banks, Bloomberg reported. The financial services firm also made equity investments in four minority banks as part of a mission to reduce the racial wealth gap. Get the Full Story Complete the form...
