Moody’s Downgrades US Banking Sector
Moody’s Investors Service has revised the forecast for the activity of the American banking sector downwards.
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Apollo Global Management Assembling Bid to Buy Silicon Valley Bank
Private investment company Apollo Global Management is asking to support its bid to buy a Silicon Valley bank.
FDIC Plans to Try Again to Sell Silicon Valley Bank
Another attempt to sell the Silicon Valley bank may be made in the near future.
US Department of Agriculture to put State Benefits on Mobile Phones in Five States
The U.S. Department of Agriculture (USDA) will provide citizens eligible for financial support under the Supplemental Nutrition Assistance Program (SNAP) in Illinois, Louisiana, Massachusetts, Missouri, and Oklahoma with the opportunity to receive benefits and make payments via NFC or QR code for relevant purchases on a mobile device.
Regulators Close Crypto-Focused Signature Bank
In the US, regulators have decided to close the New York-based Signature Bank, which is one of the largest lenders in the crypto industry.
Nissan Tries New Sales Avenues With Four Web3 Trademarks
Nissan enhanced its Web3 efforts with four new related trademarks filed in the US, while its Japan unit is currently experimenting with auto sales in the metaverse
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
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
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
