The Federal Reserve Board indicated that financial institutions (FIs) can stay strong even as they weather turbulent economic conditions, as it unveiled the results of its stress tests for this year and further sensitivity analyses conducted in consideration of the pandemic. Get the Full Story...
As the fallout from Wirecard’s missing cash scandal unfolds, an Orange executive said the Paris-based lender and telecommunications company’s banking unit may end its partnership with the German payments firm as soon as this summer, Reuters reported. Get the Full Story Complete the form to...
A record $2 trillion has been deposited into U.S. bank accounts since the coronavirus first hit the U.S. in January, according to a report by the Federal Reserve Board. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Goldman Sachs’ consumer digital bank Marcus is facing a nice problem to have (at least on the surface) in Britain. News emerged Wednesday (June 10) that the unit isn’t taking any more applications for savings accounts because demand has been so high that the volume...
U.K. digital bank Monzo will cut 120 jobs due to the impact of the coronavirus, Reuters reports. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our...
The biggest reorganization in HSBC’s history could get even larger as more cuts are requested by the board following the economic fallout from the worldwide coronavirus pandemic. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
A large share of the banking sectors of nine advanced economies, by assets, may not be able to bring in profits higher than their cost of equity in 2025, according to a simulation exercise cited in the “Global Financial Stability Report” by the International Monetary Fund (IMF). Banks...
The U.S. government stimulus program has sought – with urgency – to help keep smaller firms across the country hanging on until reopening becomes feasible. In perhaps the most visible example, the Paycheck Protection Program (PPP) has aimed to provide more than $600 billion in...
Many firms have been navigating a lot of change of late given the small matter of the international health crisis, but even by recent standards, Green Dot stands out. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
