Democrats Raphael Warnock and Jon Ossoff, who won runoff elections to flip party control of the Senate, were assigned to sit on the panel for the 117th Congress.
Gemini Trust now offers a credit card and an uninsured savings account for bitcoin holders that pays 7.4% interest. It is the latest example of a cryptocurrency company marketing banklike products.
Long hours by bankers and the streamlined resolution of Paycheck Protection Program loans helped lenders collect more fees than anticipated in the fourth quarter. It was a rare bright spot at a time when revenue is being pinched.
Chairman and CEO Phillip Green said the decision to lay off 68 employees was "really the last thing" the San Antonio company wanted to do as it wrestles with low interest rates and challenges tied to the coronavirus pandemic.
The central bank aims to roll out FedNow sometime in 2023, which is more optimistic than its previous timetable. The official leading the project noted progress in developing the infrastructure and its compatibility with private-sector solutions.
A federal watchdog is looking into former Treasury Secretary Steven Mnuchin’s decision to roll back the U.S. Federal Reserve’s emergency lending programs at the end of 2020, an issue that has become a point of partisan tension in Congress.
California Polytechnic State University is said to be seeking a new banking partner, a move which could leave the university-based credit union without a home.
The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.
The FDIC fined the New York bank $12.5 million for ignoring previous orders to clean up its act; economists say the program hasn’t saved that many jobs to justify the expense.
