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...
BlueCart has added a new vendor bill pay solution to its wholesale order management platform. With the new BlueCart Pay, wholesale and distribution businesses can pay vendors for transactions that were made outside the BlueCart platform, the company said in a Thursday (May 11) press...
Smaller lenders emerged from the recent banking crisis relatively unscathed, according to new research. A study released Thursday (May 11) by the New York Fed found that withdrawals from banks in the wake of Silicon Valley Bank’s (SVB) failure in March were primarily centered around 30...
Rokt has launched a marketplace that enables eCommerce businesses to monetize their checkout page. With the new Rokt Payments Marketplace, these businesses can allow payment providers to present relevant credit card and payment-related offers to shoppers as they are about to make a purchase, Rokt...
Plaid is expanding its application programming interface (API)-based data sharing network. The firm is now migrating 100% of its traffic to APIs for financial institutions, including Capital One, J.P. Morgan Chase, USAA and Wells Fargo, Plaid Head of U.S. Financial Institution Partnerships Christy Sunquist wrote...
