Three unnamed "senior" employees helped the SEC win a $415 million settlement from the bank; Sherborne Investors takes a 5.2% stake in the British bank.
The Berlin company hopes to shake up the U.S. market with real-time, mobile-first, millennial-friendly banking, and the new infusion of cash from Allianz and Tencent will help.
The legislation, signed Monday by Gov. Rick Scott, authorizes 60- to 90-day loans of up to $1,000. It makes Florida the first state to pass a law designed to blunt the impact of the CFPB’s payday lending rule.
The House Financial Services Committee chairman's effort to make changes to a Dodd-Frank revision bill could either give him a defining victory or extend his losing streak.
The agency's decision to lift a 2002 consent order against Ace Cash Express could lead to a revival of partnerships between national banks and payday lenders.
Bank stocks in recent months were a fallback for suffering tech investors, but now both sectors are getting hit. It's a sign of tightening interest rate spreads — and more volatility to come.
As the agency pulls back its enforcement efforts, it opens the door for state authorities to pursue more cases against financial startups for their data collection and privacy practices.
The main problem is that Amazon's Alexa, Apple’s Siri and Google Assistant can’t yet verify a person’s identity. But there are already workarounds for that issue — and the tech giants may solve it soon.
