The CHIPS network from The Clearing House now accepts new payment messages as late as 6 p.m. Eastern Time effective Monday (March 8) instead of the previous 5 p.m. EST deadline, according to an announcement. Get the Full Story Complete the form to unlock this...
Operations were frozen at Greensill Bank after Germany’s Federal Financial Supervisory Authority (BaFin) filed a criminal complaint against the financial startup, the Financial Times reported on Wednesday (March 3). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
The biggest German lenders, Deutsche Bank and Commerzbank, are shying away from larger deposits, according to The Wall Street Journal (WSJ) on Monday (March 1), as they try to avoid negative interest rates. Get the Full Story Complete the form to unlock this article and...
Square is now operating its state-chartered industrial bank, Square Financial Services, in Utah after the state’s Department of Financial Institutions gave it the green light, according to a press release emailed to PYMNTS. Get the Full Story Complete the form to unlock this article and...
J.P. Morgan Chase has committed $350 million over the next five years to help Black, Latinx and women-owned small businesses recover from the COVID-19 pandemic and grow beyond it. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
J.P. Morgan Chase is launching an investment product specifically to support Black-owned banks, Bloomberg reported. The financial services firm also made equity investments in four minority banks as part of a mission to reduce the racial wealth gap. Get the Full Story Complete the form...
U.S. bank profits fell 36.5 percent in 2020 compared to the previous year due to the large volume of money set aside to cover potential losses caused by the coronavirus pandemic, according to a report from the Federal Deposit Insurance Corporation (FDIC). Get the Full Story...
San Francisco-based Brex, which makes financial management software for businesses, announced Friday (Feb. 19) it has filed to open an industrial bank in Utah, according to a press release. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
In today’s top digital-first banking news, Bank of America inventors filed a record number of patents, while Klarna is collaborating with cryptocurrency exchange Safello. Plus, Deutsche Bank has introduced a modern payment system for its Thailand customers to support local collections. Get the Full Story...
