Square Inc. starts its industrial banking operations; buys TIDAL
Square Inc. announced its industrial bank, Square Financial Services, has begun operations, on March 1st, 2021. The announcement comes nearly one year...
Fed’s Wire Transfer System for Banks Experienced a Several Hour Outage
The Federal Reserve's system that allows banks to wire transfer money back and forth went down for several hours on Feb. 24....
Brex Files Application for Industrial Bank Charter with FDIC
Fintech Brex announced in a statement on Feb. 19 that it has submitted an application with the Federal Deposit Insurance Corporation (FDIC)...
Goldman Sachs Partners with Marqeta to Build Checking Accounts
Goldman Sachs (GS) has partnered with card issuing startup Marqeta to build the U.S. bank's Marcus checking accounts scheduled to launch in...
Consolidation Looms Over Europe’s Digital Banks After a Tumultuous 2020
Due to the coronavirus pandemic, the prominence of digital banks and online banking has increased substantially over the past year.
SoFi Merges with Social Capital Hedosophia to Form a One-Stop-Financial-Shop
SoFi, the online lender, has merged with SPAC Social Capital Hedosophia to pave the path for the fintech to go public. The...
Open Banking Platform Tink Raises $103M in Latest Funding Round
Open banking fintech Tink raised $103 million in its latest venture capital funding round. The Stockholm based-organization has raised over $210 million...
Google Offers a One-Stop-Shop for Financial Services With New Google Pay App
Google Pay received a significant update the week of Nov. 16 as it introduced the Google Pay App, which focuses on personal...
Square Exceeds Q3 Expectations Due to Bitcoin Trading
Square Inc.’s revenue from bitcoin surpassed expectations in revenue in the third quarter, according to Square’s Q3 earnings report. The payment company...
CFPB Proposes Open Banking Regulations, Opens for Comments
The Consumer Financial Protection Bureau (CFPB) issued an advanced notice of proposed rulemaking. It was completed to regulate how banks and fintech...
Recent Articles
New Chapter 11 Filings, Disclosures: April 12 – April 16, 2021
At least two major companies have either filed for Chapter 11 bankruptcy protection or defaulted on loans during the week of April...
ViacomCBS Networks International Agrees to Acquire Chilevisión
On Monday April 5, ViacomCBS Inc. (NASDAQ: VIAC, VIACA) announced that it had agreed to acquire Chilevisión from WarnerMedia. WarnerMedia is a...
Carnival Reports $2 Billion Quarterly Loss
Carnival reports $2 billion quarterly loss. This is due to COVID-19 pandemic restrictions on the cruising industry, which has decimated Carnival and...
New High Yield Bond Ratings: April 5 – 9, 2021
At least 35 companies received a revision on high yield bond ratings during the week of April 5-9, 2021. These revisions caused...
ECB President Lagarde Expects Strong Rebound for EU Economy in Second Half
Despite COVID-19 struggles, European Central Bank (ECB) President Christine Lagarde told CNBC on April 9 that the European Union (EU) will hit...
Most Popular
Big Banks Hired 19,000 Due to Pandemic in First, Second Quarters
The COVID-19 pandemic prompted big banks to hire 19,000 employees in the first two quarters of 2020. Eight of the 15 largest...
OCC Pauses Publication of ‘Fair Access’ Rule
The Office of the Comptroller of the Currency (OCC) announced on Jan. 28 it has paused publication of its "fair access" rule....
Bleak Outlook Continues for Distressed Hotel Industry amid COVID
The leisure and hotel sectors continue to be among the industries most affected by the raging COVID-19 pandemic. Social-distancing requirements, travel restrictions,...
New High Yield Bond Ratings August 10 – August 14, 2020
At least 15 companies received downgrades or revisions on high yield bond ratings during the week of August 10 – August 14,...
Men’s Wearhouse Struggles to Resurge
After a rough 2020, Men's Wearhouse LLC continues to face an uphill battle toward recovery.
Moody's recently affirmed...
