You might have heard about people and companies losing their bank accounts suddenly. This isn't just happening to regular folks, but also to big names in the tech and crypto world. Recently, the U. S. Oversight Committee, led by Representative James Comer, started looking into these cases. They're t
For a long time, Wall Street banks stayed away from owning cryptocurrencies like Bitcoin. This was mainly due to a rule from the U. S. Securities and Exchange Commission (SEC). This rule, called "Staff Accounting Bulletin 121" or SAB 121, forced banks to treat digital assets as a liability on their
The Federal Reserve's top banking regulator, Michael Barr, is leaving his supervisory role next month. This move comes amid speculation that President-elect Donald Trump wants a more bank-friendly candidate. Barr will stay on as a Fed governor until 2026, but his resignation as the vice chair for su
You might have heard about Morgan Stanley's recent exit from the UN-backed Net-Zero Banking Alliance. They're not alone, with big names like Goldman Sachs and Bank of America also taking a step back. So, what's the deal? Critics are pointing fingers at conservative groups who aren't fans of environm
It's been quite a stir in the world of delivery services. The Consumer Financial Protection Bureau (CFPB) has slammed Walmart and the fintech company Branch Messenger with a lawsuit. The accusation? Forcing over a million delivery drivers to use pricey deposit accounts to get their paychecks without
In the world of trucking, getting paid quickly has always been a challenge. The freight industry often relies on factoring to ensure carriers get their money fast. But this process hasn't changed much over the years, and it still faces delays, especially over weekends and holidays. One company, Out
Imagine having to pay $35 just for buying a $5 coffee with your debit card when you're a bit short on funds. Sounds unfair, right? Well, the Consumer Financial Protection Bureau (CFPB) thinks so too. They've just announced a new rule to limit those nasty overdraft fees. The rule says banks can't cha
Comerica Bank is in hot water with the Consumer Financial Protection Bureau (CFPB). The bank had a deal with the U. S. Treasury to manage federal benefits on prepaid debit cards, used mainly by the elderly and disabled. But the CFPB says Comerica hasn't been treating these customers fairly. Since 20
Let's talk about one of the biggest fraud cases in Vietnam. Truong My Lan, the chairperson of Van Thinh Phat real estate firm, was at the center of it all. The court upheld her death sentence, and the story behind it is quite shocking. Lan was accused of embezzling and bribing her way to control Sai
In a striking move, UniCredit, one of Italy's largest banks, has stepped forward with a proposal to buy another significant Italian lender, Banco BPM. The potential deal, valued around 10 billion euros (over $11 billion), is just the latest in a series of similar mergers happening across Europe's ba
