The banking system is sound, and resilient, according to the Federal Reserve. But the performance of some of the loans on banks’ books — particularly at smaller financial institutions (FIs) — bear watching. To that end, the central bank noted in its semiannual Supervision and...
Instacart has introduced “Express Lane,” a holiday-themed perk for Instacart+ members. Announced Monday (Nov. 18), Express Lane gives members zero-dollar delivery minimums on grocery and retail orders of $10, what the company says is the lowest cart minimum for $0 delivery in the industry. “This offering...
The Federal Deposit Insurance Corp. (FDIC) has extended the public comment period for its proposed rule on recordkeeping for banks’ custodial accounts. Previously scheduled to end Dec. 2, the comment period now runs through Jan. 16, the FDIC said in a Monday (Nov. 18) press...
Global FinTech Revolut plans to offer its customers in the United Kingdom new trading products and features after receiving a U.K. trading license from the Financial Conduct Authority (FCA). The receipt of this license makes Revolut Trading an authorized investment firm, allowing it to improve...
Spain has become Europe’s first banking market fully connected to the European Payments Council’s One-Leg Out instant payments plan. The country’s banking industry achieved that milestone earlier this month, Iberpay said in a news release Monday (Nov. 18). As part of the EPC’s One-Leg Out (OCT Inst) program, banks can tap...
HSBC reportedly wants hundreds of managers to reapply for jobs at the bank’s new division. Interviews for positions at HSBC’s corporate and institutional banking (CIB) arm have already begun, Bloomberg News reported Monday (Nov. 18), citing sources familiar with the matter. These interviews — part of new CEO Georges...
Cross-border trade is a huge business, totaling roughly $190 trillion in 2023. Sourcing goods and services globally and establishing supply chains that transcend borders have become part of the corporate DNA. However, navigating the complexities of cross-border payments remains a challenge as businesses grapple with...
Klarna is reportedly looking to list its recently announced initial public offering (IPO) in New York in the first half of 2025. The Swedish buy now, pay later (BNPL) provider is asking banks to submit pitches for junior roles in the share sale, Bloomberg reported Friday (Nov....
There’s an upcoming deadline for companies in the United States. Many firms and corporations created or registered to do business in the U.S. must comply with new regulations Jan. 1 implemented by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) under the...
