Category: Finance

Crypto exchange Gemini will contribute $100 million in cash to a recovery plan for the bankrupt crypto lender Genesis Global Capital and its parent company, Digital Currency Group, the lender’s lawyers said in a court hearing Monday. Gemini, founded by twins Cameron and Tyler Winklevoss, said it would keep aside the funds for users of its […]

Dive Brief: Instacart announced Monday the launch of its Scan & Pay solution at Foodcellar Market, a two-store grocer in New York City.  This marks the retail debut for Instacart’s Scan & Pay system, which is part of the company’s Connected Stores suite of solutions for retailers that Instacart announced in September.  The debut of […]

Dive Brief: In December, payments processor Fiserv purchased independent sales organization Miami Beach, Florida-based Merchant One, Inc., which markets to merchants in the restaurant, retail and e-commerce arenas, the company announced Tuesday. “Folding in this long-term Fiserv customer” should “enhance our direct merchant acquisition capabilities, extend the reach of our Clover product line and create cost […]

Dive Brief: In an expansion of its ties to Google, card company American Express added a new app security feature this week for users of Amex’s virtual cards in the U.S., according to a blog post Tuesday by the tech giant. The new arrangement was initially announced last year as part of a broader Google campaign. […]

Chris Ryan is a senior fraud solutions business consultant at the credit bureau Experian. When online retailers review their sales figures for the 2022 holiday shopping season, one question will take center stage: How much revenue was lost because good shoppers were turned away? When poor identification practices fail to verify shoppers’ identities adequately, retailers […]

Dive Brief: Republicans controlling House oversight of the Securities and Exchange Commission are targeting the agency’s proposal requiring companies to disclose in detail risks from climate change, saying the rule poses a threat to U.S. capital markets. House Financial Services Committee Chair Patrick McHenry of North Carolina announced Friday the creation of a Republican group […]

Dive Brief: Bank of America cut CEO Brian Moynihan’s compensation by 6.3% in 2022 — to $30 million, from $32 million, according to a Securities and Exchange Commission filing Friday. The decrease comes after net income at Bank of America fell 14% over the year to $27.5 billion, from 2021’s record $32 billion. Last year’s […]

Dive Brief: Huntington Bank launched a new home-lending product aimed at serving borrowers from under-resourced communities, the Columbus, Ohio-based bank announced last week. The product, called Huntington Home for Good, aims to increase mortgage-lending options by modifying eligible credit criteria. The product features expanded use of alternative credit, debt evaluation flexibility, low down payment requirements […]

Consumer banking apps have continued their steady climb in popularity, with 87% of consumers saying that they use their bank’s app at least monthly — and 66% saying they can’t live without it. “People are using mobile banking apps more than ever and rely on them to manage their finances, including sending money to family […]

Euronet Worldwide’s Dandelion service aims to do for banks and businesses what its Ria money transfer service has done for consumers. The company is in conversations with big banks to provide them with the white-label cross-border payments services, said Cecilia Tamez, who is chief strategy officer for the Dandelion business. While she declined to name […]