This past Sunday, comments were due in response to the Federal Reserve’s proposed changes to Regulation II of the Durbin Amendment. Elisa Tavilla, Director of Debit Payments at Javelin Strategy & Research recently covered the initial proposal. A Quick Recap In October 2023, the Federal Reserve Board voted in favor of a proposal to lower the […]
An independent advocacy group of McDonald’s franchisees is weighing in on the company’s upcoming value meal promotion, cheering affordability for the consumer, but pushing for future contributions from the company to make the discounted offering sustainable for operators in the long run. “The fact remains that in order to provide the consumer with more affordable […]
This month, consumer group Which? shared research that found finance fraud is rife across secondhand marketplaces. Can ecommerce platforms stem the tide? Earlier this month, leading consumer group Which? released its survey of 1,300 buyers, finding 32% of respondents were scammed on secondhand marketplaces in the space of two years from January 2022 to January […]
US investment bank Goldman Sachs is looking to expand its private equity credit & asset management lines, as it bids to fill void of recent banking turmoil Goldman Sachs, the US investment banking leader is seeking to expand into the private equity and asset management lending market, amid a global expansion overseas. The move comes […]
Government debt that has swelled nearly 50% since the early days of the Covid pandemic is generating elevated levels of worry both on Wall Street and in Washington. The federal IOU is now at $34.5 trillion, or about $11 trillion higher than where it stood in March 2020. As a portion of the total U.S. […]
Americans have been pessimistic about the economy for years. Weirdly, that’s seemed to have little impact on their willingness to open their wallets. Retail sales surged during the pandemic as home-bound workers clicked “complete purchase” on everything from Pelotons to sourdough starter. In 2020, e-commerce sales rose by 43 percent. Stimulus checks gave Americans newfound […]
Payments infrastructure provider BVNK has integrated PayPal USD into its payments platform, boosting the mainstream adoption of stablecoinsPayments infrastructure provider BVNK, a Top 10 fintech startup, has integrated the US dollar-pegged stablecoin PayPal USD (PYUSD) into its payments platform, in a move it hopes will mark a significant forward step for the mainstream adoption of […]
Insurance unicorn Wefox has warned investors that it may soon face insolvency due to financial losses and regulatory charges. CEO Mark Hartigan sent a memo to shareholders in early May, stating that the business could become insolvent in August this year or earlier, according to Sky News. Hartigan wrote in the memo: “The opportunity to […]
Boeing (BA) stockholders decided Friday that CEO Dave Calhoun can stay on the company’s board despite an unfolding crisis that started under his watch. Calhoun has already announced that he is stepping down as boss at the end of the year. During the plane maker’s annual shareholder meeting on Friday, shareholders voted for Calhoun to […]
U.S. workers at a Mercedes-Benz plant in Alabama handed a stinging loss to the United Auto Workers on Friday, rejecting the union in a vote it had expected would build on a win at a Tennessee Volkswagen plant and push it deeper into the U.S. South. It marked the first big loss for UAW organizers […]
A growing number of Americans are maxed out on their credit cards. Nearly one-fifth of credit-card borrowers were using at least 90% of their available credit in the first quarter of 2024. The New York Fed called attention to America’s “maxed-out borrowers” in a report this week. Credit card balances, and attendant delinquencies, have been […]
Institutional investors are going to play a bigger role in the cryptocurrency trading market, Bakkt said Wednesday (May 15) when announcing its latest quarterly results. Bakkt, which provides custody, trading and onramp capabilities for the crypto economy, said in a presentation released Wednesday that this increase in the mainstream adoption of crypto was sparked by […]
