PNC and JPMorgan Chase were reportedly among the bidders vying to own First Republic Bank. U.S. regulators auctioned off the struggling bank Sunday (April 30), according to a report by Reuters. Sources told the news outlet the Federal Deposit Insurance Corp. (FDIC) is expected to announce a deal on Sunday night...
U.K.-based micromobility firm HumanForest has raised $15 million to boost its eBike technology. The company announced its Series A funding Friday (April 28), saying it would use the money to double the size of its fleet and develop its advertising technology platform and user app....
Federal regulators have cited Crypto and FinTech-focused lender Cross River Bank. The Federal Deposit Insurance Corp. (FDIC) issued a cease-and-desist order against the New Jersey-based bank due to its lending practices, the agency announced Friday (April 28). According to an order from the FDIC, issued March 8, Cross River...
Lemon8, the sibling app of TikTok, is steadily growing its user base while TikTok faces challenges on Capitol Hill and the first state-approved measure to ban it. The Lemon8 app, which like TikTok is owned by Chinese company ByteDance, appears to be a hybrid that...
In a scathing self-assessment, the Federal Reserve’s autopsy on Silicon Valley Bank’s failure puts blame partially on its own doorstep, as regulator reports on Signature Bank’s collapse cite the lender’s “poor management.” The autopsy on failure has been released ahead of schedule. The 114-page unflinching...
A former Apple buyer has been sentenced to three years in prison for defrauding the company of $17 million. Dhirendra Prasad of Mountain House, California, who was a buyer in Apple’s Global Service Supply Chain, was also ordered to pay over $19 million in restitution to Apple...
At one time, it seemed like only the most tech-forward or foolhardy were conducting financial transactions over smartphones, as they were then viewed as less secure than personal computers. That sentiment began shifting as app purchases and similar activities “normalized” mobile financial transactions, which quickly...
The door opens for investors to bet on the digital front door, in India. The premise and promise of the super app is to give a single point of entry (the front door) to a range of activities spanning everything from ride-hailing to commerce to...
Shipt is seizing on business travelers’ demand for familiarity to drive same-day delivery adoption. In an interview with PYMNTS, Alex Ross, vice president of business development at the Target-owned aggregator that provides on-demand delivery of groceries, daily essentials and other items, said the company’s new...
