The Securities and Exchange Commission (SEC) said Macquarie Investment Management Business Trust (MIMBT) will pay $79.8 million to settle fraud charges. The regulator charged the registered investment adviser with overvaluing about 4,900 largely illiquid collateralized mortgage obligations (CMOs) and executing hundreds of cross-trades between advisory...
Rewards network Ascenda says it is getting bigger with the help of Uber. The company announced Thursday (Sept. 19) that it was expanding its network to let its FinTech and banking clients’ customers redeem their reward points in partnership with the ride-hailing/delivery company. Those credits...
The B2B landscape is full of what buyers and suppliers don’t know. In today’s rapidly evolving landscape, B2B businesses across the transaction frequently find themselves navigating uncertainty. Whether it’s the hidden costs of transactions, the intricacies of payment terms, or the evolving regulatory and technological...
The Consumer Financial Protection Bureau (CFPB) will soon propose a rule that would apply privacy protections to data brokers, CFPB Director Rohit Chopra said Thursday (Sept. 19). In remarks prepared for delivery at the Aspen Institute, Chopra said this proposed rule would give consumers more...
Munich-based venture capital (VC) firm Capmont Technology has reportedly launched a $111 million fund. The company, which has raised $334 million since its founding in 2016, focuses on B2B tech startups from late seed to the Series B stage, EU Startups reported Thursday (Sept. 19). “Startups operate in a...
Yonder has raised 23.4 million pounds (about $31.1 million) to expand its credit card designed to help cardholders build good credit habits while earning rewards. The London-based company will use the new funding to grow its team, launch new rewards and accelerate its expansion outside...
The hyper-personalization of insurance enabled by artificial intelligence could benefit some customers but render others “uninsurable,” Nikhil Rathi, CEO of the United Kingdom’s Financial Conduct Authority (FCA), said Thursday (Sept. 19). In a speech drafted for delivery at StepChange Connected 2024 in Leeds, Rathi cited...
As retail giants Amazon and Walmart race to capture consumers’ online shopping spend, both aim to sweeten the deal for members of their paid subscriptions to drive loyalty and engagement. Amazon, for its part, is adding more offerings that extend beyond its own marketplace. The...
Walmart is reportedly enhancing its pay-by-bank offering via a partnership with Fiserv. The retailer began offering pay-by-bank with Walmart Pay earlier this year, Bloomberg reported Thursday (Sept. 19). But those transactions, processed through the Automated Clearing House, typically took three days to finalize. Under the...
