First Republic Strengthens Liquidity With the Help of JPMorgan
First Republic Bank enhanced and diversified its financial position through additional liquidity from the Federal Reserve Bank and JPMorgan Chase
US - page 76
US Fed Establishes $25B Funding to Support Banks Amid Collapse
The United States Federal Reserve has launched a $25 billion funding program for banks and other depository firms to maintain liquidity as a wave of industry shutdowns has covered another bank
Biden Budget Proposes Crypto Mining Tax
A budget proposal by U.S. President Joe Biden aims to “reduce mining activity” with a 30% tax on electricity costs linked to the cryptocurrency mining process
NYDFS Secures $157.4 Million in Recoveries and Penalties in 2022
The New York State Department of Financial Services (DFS) secured $157.4 million in 2022.
Varo Bank Raising $50 Million at 28% Discount
Varo, an American neobank with the charter of the national bank, reported a capital raising of $50 million at a discount of 28% compared to its last estimate.
Senators Urge Regulators to Take Action on Zelle Fraud
In the Senate, Democrats, including Elizabeth Warren, issued an appeal to financial regulators to take actions aimed at curbing fraudulent activity, against the P2P payment service owned by Zelle Bank.
CFPB Discloses Typical Consumer Financial Profiles of BNPL Users
The CFPB revealed its recent research which helped the institution create a typical image of a BNPL borrower, who uses the option without signs of stress, but tends to be highly indebted
Modern Treasury Unveils Global ACH Service
Modern Treasury has presented a new cross-border payment network Global ACH, that should provide a cheaper and faster alternative to the SWIFT network and other third-party options with high FX markups
TD Bank Completes Cowen Acquisition
TD Bank Group, based in Toronto, announced the completion of the acquisition of the New York multinational investment bank Cowen Inc.
Walmart Teams Up With Citi on Digital Lending Platform
Walmart and Citi introduce a digital lending platform that connects the retail giant’s network of 10,000 US-based small business suppliers with 70+ lenders that may provide loans of up to $10 million
FTX founder Hit With Further Criminal Charges
The U.S. attorney’s office has filed new charges against FTX founder Sam Bankman-Fried.
Phos Brings Tap-to-Phone Tech to US With Thrive Payments
Bulgaria-based softPOS system Phos enabled payment gateway Thrive Payments to bring its Tap-to-Phone payment solution to merchants in the US
US Credit Card Debt Reaches $1 Trillion, While Delinquency Rates Rise
The New York Federal Reserve estimated that US credit card debt reached nearly $1 trillion in the fourth quarter of 2022, growing by a record $130 billion annually. The rise in delinquencies and charge-offs makes credit card issuers prepare for the worst
Solana Spaces Experiment Fails
Solana Spaces stores in Manhattan and Miami did not spark customers’ interest in the Solana and Web3 ecosystem, being closed after 7 months of unfruitful operations
Social Investing Platform eToro Secures NYDFS Licenses
The American subsidiary of eToro, an Israeli social investing platform, received its money transmitter and virtual currency licenses from the New York State Department of Financial Services (NYDFS)
Crypto Outflows Surge Amid SEC Crackdown
Institutional investors are massively withdrawing crypto funds as the SEC targets more and more aspects of the crypto industry in the US, making it harder for crypto trading platforms to provide custody, minting and staking services
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