With the social media giant under heavy scrutiny for its cryptocurrency plan, the company's CEO plans to tell lawmakers that the Libra Association will take the lead.
The Treasury secretary repeated his concerns about the social media giant's proposed cryptocurrency, one day before Mark Zuckerberg is expected to face tough questioning from House lawmakers.
Ellen Alemany said that CIT's deal for Mutual of Omaha Bank will immediately lower the bank's deposit funding by 20 basis points. She also reiterated that the acquisition would make CIT more attractive to potential buyers.
A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, the consultancy said in its annual review of the industry released this week.
