Fintech News Stories
Morgan Stanley CEO acknowledges crypto is not a fad
/James Gorman, CEO of Morgan Stanley, said on a third-quarter earnings call that crypto is “not a fad,” but stopped short of saying it will become an integral part of financial services.
Read MoreWith 24% bump in profit year-over-year, JPMorgan Chase leans into acquisitions
/JPMorgan Chase exceeded profit expectations in its third-quarter earnings call this week, progress that aligns with a wider economic recovery.
Read MoreSEC stirs up debate on whether ‘nudges’ from financial apps are recommendations
/In-app “nudges” or suggestions are expected offerings from digital financial platforms, but there is debate around whether they are forms of financial advice that need to be regulated.
Read MoreStripe building crypto team three years after ending Bitcoin support
/Stripe, a company whose tools allow merchants to accept payments, is looking for talent to support crypto integrations.
Read MoreJamie Dimon critiques bitcoin, calling it ‘worthless’
/JPMorgan Chase CEO Jamie Dimon clarified that he is no fan of bitcoin, this time telling an audience at an Institute of International Finance event this week that he thought the digital currency was “worthless.”
Read MoreUmpqua Bank to merge with Columbia Bank in $5.2B, all-stock deal
/Umpqua Bank and Columbia Bank have agreed to merge, bringing together two West Coast institutions which have a combined $43B in deposits.
Read MoreCrypto platforms to underpin secure forms of digital identity: report
/As consumers grow wary of online sign-in methods based on social media login credentials, a report suggests blockchain-based sign-in methods associated with crypto wallets may offer a safer solution.
Read MoreDepartment of Justice creates team to investigate criminal misuse of cryptocurrencies
/The Department of Justice unveiled its National Cryptocurrency Enforcement Team this week, a body that will deploy cyber and money laundering expertise to go after crypto actors engaged in criminal wrongdoing.
Read MoreMoneyGram and Stellar launch instant crypto to cash transfers
/International money-transfer firm MoneyGram has entered into an agreement with blockchain network Stellar to support instant money transfers using the USD Coin (USDC) stablecoin.
Read MoreSEC Chair Gensler says a crypto ban would be ‘up to Congress’
/Securities and Exchange Commission (SEC) chair Gary Gensler told the House Financial Services Committee this week that the SEC would not follow China’s lead and ban cryptocurrencies.
Read MoreBank of America’s Life Plan feature gains more than five million users
/Bank of America announced that Life Plan – a digital financial planning tool it launched a year ago – has crossed five million users, calling it the company’s “most rapidly adopted digital feature of all time.”
Read MorePostal banking pilot launches in four cities as USPS explores financial services
/The U.S. Postal Service is launching a pilot program in four cities in an effort to deliver financial services to underserved Americans.
Read MoreStarling Bank to launch embedded finance APIs for European clients
/Starling Bank, a U.K.-based digital bank, says it will launch a technology offering called “Starling-as-a-Service” for European clients next year.
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