Tencent doesn’t expect a serious impact to its business if it folds its FinTech business into a financial holding company as recommended by regulators, Bloomberg writes. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
Mounting bubble fears have triggered new guidance from Chinese regulators instructing banks to scale back loan amounts in 2021, Reuters reported on Friday (March 5), citing sources. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Chinese regulators continue to tighten rules for financial technology companies. On Tuesday (March 3), a top official said that FinTechs will be required to meet new capital requirements by the middle of next year, Reuters reported. Get the Full Story Complete the form to unlock...
Cashplus, a credit card lender for small- to mid-sized enterprises (SMEs), has now become a full bank for SMEs in the U.K., a report from AltFi says. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
The European Central Bank (ECB) held this year’s first monetary policy meeting, and said in a statement on Thursday (Jan. 21) that it would stay the course regarding procedures instituted during the COVID-19 pandemic to counter its “negative” shock. Get the Full Story Complete the...
The Office of the Comptroller of the Currency (OCC) released a finalized rule on ensuring fair access to banking services from large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations, according to a press release. Get the Full Story...
Ant Group, Tencent and JD.com are facing a crackdown by Beijing over concerns of over-lending to consumers through their platforms, a major cash cow for the Chinese tech giants. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
China’s Banking and Insurance Regulatory Commission (CBIRC) is encouraging investors such as companies and non-bank financial groups to acquire and provide additional capital to shore up at-risk rural banks, according to Reuters. Get the Full Story Complete the form to unlock this article and enjoy...
Some intended COVID-19 stimulus beneficiaries won’t see any money the federal government sends them through direct deposits because unpaid overdraft fees will more than consume newly injected funds, The New York Times reports. Get the Full Story Complete the form to unlock this article and...
