The Bureau of Labor Statistics (BLS) published a little-noticed piece last month analyzing the part auto dealers’ markups played in new car price tag inflation during the post-pandemic recovery. With their significant part in the supply chain through maintaining inventory of cars awaiting sale, dealerships were...
So far, Walmart has been more publicly outspoken than Amazon about adopting the Federal Reserve’s forthcoming FedNow instant payment platform. However, the eCommerce giant is well aware of the new payment rail, and other moves suggest that early adoption of FedNow ahead of the platform’s...
FinTechs are facing an existential crisis now that the age of easy access to capital is over. Investors — running the gamut from private venture capital firms to Wall Street activist investors and retail masses — are demanding to see profits. Sustainable black ink on...
Earnings, earnings, everywhere — and for the FinTech IPO Index, a notable rally marked the past five sessions. The overall index was up 9.3%. Blend Labs led the charge, where shares soared more than 84%. In the company’s results, Blend noted its mortgage banking software...
The head of the Consumer Financial Protection Bureau (CFPB) says big banks should pay for insuring “uninsured” depositors. CFPB Director Rohit Chopra, who is a member of the Federal Deposit Insurance Corporation (FDIC) board of directors, said in a Thursday (May 11) statement that he supports the FDIC’s proposal to require banks...
Paysend has launched its cross-border payments solution for small businesses in the United States. The expanded availability of Paysend Business follows its successful implementation in the United Kingdom in 2022, the company said in a Thursday (May 11) press release. “We know that cross-border payments can be a pain point for...
America’s biggest banks are facing a $15.8 billion bill for the recent banking crisis. That’s according to the Federal Deposit Insurance Corporation (FDIC), which announced in a Thursday (May 11) press release that it plans to extract that amount in extra fees over two years to recoup its losses...
Supply chain tech firm Turvo has launched a partnership with freight payments system processor Denim. The collaboration, announced Thursday (May 11), integrates Denim’s solution with Turvo’s platform to let logistics service providers process factored and non-factored payments without needing to involve things like manually uploading...
Adidas has decided what to do with its millions of leftover Yeezy sneakers. The firm will sell the $1 billion worth of products and donate the proceeds to charity, The Wall Street Journal (WSJ) reported Thursday (May 11), citing a presentation by Adidas CEO Bjorn Gulden at the company’s annual general...
