India's central bank has been busy lately, moving a lot of its gold from foreign banks back home. Now, over 65% of its gold is stored within the country. That's a big jump from just four years ago. Why the rush? Well, after some countries froze Russia's gold reserves due to the Ukraine conflict, Ind
Financial fraud is evolving, and one of the most alarming trends is synthetic identity fraud. This type of fraud, often referred to as "Frankenstein fraud, " involves creating a fake identity by combining real and fabricated information. Unlike traditional identity theft, where a criminal steals and
The U. S. Consumer Financial Protection Bureau (CFPB) has decided to cancel a plan to keep track of non-bank financial companies that break the rules. This idea was first proposed during the Biden administration to help catch and stop repeat offenders. But now, the CFPB says the costs of keeping thi
Big changes are happening at Bank of America. The bank just promoted some key people in its technology and media teams. Matthew Sharnoff and Johnny Williams are now the new leaders for global tech investments. They will work together as co-heads. Sharnoff has been with the bank for over 25 years. Wi
Pave Bank has secured $39 million in funding, with Accel leading the charge. This company is on a mission to blend traditional finance with the world of digital assets. Imagine a bank that handles both regular money and digital currencies seamlessly. That's what Pave Bank offers. It provides deposit
In a move to boost their market presence, Huntington Bancshares has decided to acquire Cadence Bank. This isn't just any deal; it's a massive $7. 4 billion all-stock agreement. Why are they doing this? Well, regional banks like Huntington are feeling the pressure to grow and compete with the big sho
Food banks in the U. S. are already struggling to meet the needs of those facing hunger. Rising food costs have pushed more people to seek help. Now, with federal funding for the SNAP program set to run out, the situation is about to get worse. The SNAP program, which helps about 42 million America
People are always on their phones, and banking is no exception. Over half of users check their banking apps daily, with a quarter doing so multiple times a day. Mobile banking is huge, but many banks are not keeping up with what users want. Users expect their banking apps to be personalized, but 51
In a significant move for gender equality, Japan has appointed its first female finance minister, Satsuki Katayama. This is a big deal because, in a country where politics has been male-dominated for ages, Katayama's appointment is a step forward. Katayama is not just any finance minister. She has
Recently, two big companies, Tricolor and First Brands, ran into serious trouble. Tricolor, a major used-car seller in Texas and California, suddenly went bankrupt. This wasn't just any bankruptcy. Investigators are looking into whether Tricolor tricked lenders by promising the same collateral to ma
