British banking giant Starling Bank has apologized to a client after reportedly blocking his money transfer and forcing him to jump through a series of “absurd” hoops. Academic and professor John MacInnes says Starling froze a transfer of about $16,789 that he was making to a friend in Austria who he’s known for over 20 […]
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A Wells Fargo customer is accusing the third-largest US bank of overcharging consumers in a new proposed class-action lawsuit. The suit, filed in California by Barbara Prado on behalf of herself and others similarly situated, alleges Wells Fargo “unilaterally” overcharged tens of thousands of customers on their mortgage loan accounts. According to Prado, Wells Fargo […]
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More than two dozen Wall Street firms including Bank of New York Mellon and Truist have agreed to pay a massive collective fine to US regulators. The financial companies are handing over $470 million to the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to settle charges that the firms […]
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A new report from JPMorgan Chase is shedding light on how many Americans can afford to pay for an emergency. An analysis of 5.9 million households with Chase bank accounts shows 8% are completely unable to cover a $400 “expense shock” – not even with their credit cards. That adds up to 472,000 customers from […]
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The “hung” loans have led to bankers calling it the worst buyout since 2008.
There have been thousands of corporate buyouts in the 14 years since the 2008 banking crisis. And, according to the banks holding the loans, none of them have been worse than Elon Musk’s takeover of Twitter.
A report from the Wall Street Journal indicates that approximately $13 billion in loans used in the purchase of Twitter (now X) are stuck on banks’ balance sheets.
The typical practice for this type of debt financing is for banks to sell that debt to other investors. Since X is a private company, this practice allows investors who weren’t involved in the initial financing phase to become stakeholders.
A former JPMorgan employee is in the cross hairs of the Financial Industry Regulatory Authority (FINRA) over alleged regulatory violations. FINRA says it’s penalizing Dale Self with a $5,000 fine and suspending him from associating with its members for 15 business days for “improperly” taking the personal information of dozens of customers from J.P. Morgan […]
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Model and self-proclaimed “human barbie doll” Jessica Alves says her bank account has been terminated because she’s on OnlyFans. Alves says she received an account closure notice from Barclays in the mail and promptly went to a branch in London to figure out what happened, reports the Daily Mail. “I have banked with Barclays for […]
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A total of 94 US banks are at significant risk of experiencing bank runs by uninsured depositors if they show financial weakness, according to a new report. An analysis from Florida Atlantic University finds the billion-dollar banks in question – which include seven US financial giants – have all reported a 50% or higher ratio […]
The post BNY, State Street and JPMorgan Chase at ‘Serious Risk’ of Bank Runs, Along With 91 US Lenders: Report appeared first on The Daily Hodl.
JPMorgan Chase is updating its economic outlook amid increasing market turbulence and growing fears of an impending recession. The bank’s global research division says the US economy is showing signs of a slowdown, pointing to the rising unemployment rate and a weaker-than-expected July jobs report. In light of the new data, JPMorgan is raising the […]
The post JPMorgan Chase Raises Probability of Imminent US and Global Recession, Abruptly Shifts Forecast on Fed Rate Cuts appeared first on The Daily Hodl.
The charter allows Fireblocks to offer cold-storage custody to US clients.
Web3 infrastructure provider Fireblocks has been granted a New York state charter to custody cryptocurrency for clients in the United States, Fireblocks told Cointelegraph on Aug. 14.
“As of this month, Fireblocks Trust Company, LLC has received its limited purpose trust company charter to engage in virtual currency business and will soon begin offering cold storage custody solutions powered by Fireblocks' technology to US customers,” Fireblocks told Cointelegraph in a statement.
In May, Fireblocks said it intended to “launch a limited-purpose trust company that is under the regulation of the New York Department of Financial Services (NYDFS)” called Fireblocks Trust Company that “will offer cold storage custody solutions to US clients.”
