“A run on every bank in the country.” That’s the scenario federal regulators helped prevent by covering depositors when Silicon Valley Bank (SVB) collapsed in March, Berkshire Hathaway CEO Warren Buffet said Saturday (May 6). “It would’ve been catastrophic” if the Federal Deposit Insurance Corp. (FDIC) hadn’t done that,...
After encountering financial difficulties last month, Tupperware, a trailblazing direct-to-consumer (D2C) brand, has implemented some inventive marketing and sales strategies, one of them being the launch of its Heritage Collection bowls. In celebration of the fifth and final season of “The Marvelous Mrs. Maisel” on...
The Securities and Exchange Commission (SEC) is reportedly investigating whether there was insider trading at First Republic Bank. The investigation focuses on trades that now-former executives made before the government seized the bank and sold it to JPMorgan Chase, Bloomberg reported Friday (May 5), citing unnamed sources. The report added that...
Velmie has added a card module to its composable white-label solution for FinTech companies and banks. The new card module is part of an updated product that includes a range of new modules, features and enhancements that customers can use to create their own customized FinTech...
New York State Attorney General Letitia James has proposed legislation to regulate the cryptocurrency industry. The Crypto Regulation, Protection, Transparency and Oversight (CRPTO) Act would stop conflicts of interest, require public reporting of financial statements and bolster investor protections, the New York State Office of...
OpenTrade has raised $1.5 million in a funding round for its platform for investing in tokenized financial assets. OpenTrade plans to launch its platform in the second half of the year and will use the new funds to scale its operations, the company said in...
Equifax has launched a fraud protection tool for Shopify designed for small business merchants. The new Kount Essentials application joins the company’s Kount Advanced app for Shopify, which is designed for larger businesses with dedicated fraud management teams, Equifax said in a Wednesday (May 3)...
Ant Group may not see progress on its application for a license from China until the second half of the year or later. The Chinese FinTech aims to obtain a financial holding company license and become a fully regulated company, but its efforts have been...
Consumers can now ask Alexa for the status of their Uber Eats orders. The integration of Uber Eats with Amazon Echo devices in the United States enables real-time, hands-free order tracking via the voice assistant, the companies said in a Thursday (May 4) press release. “We know that consumers are busier than...
