Category: Finance

Dive Brief: The Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City on Friday denied crypto-focused Custodia Bank’s request to become a member of the Federal Reserve System, as well as its application for a master account. In a statement Friday, the Fed said Custodia’s crypto-focused business model “presented significant safety […]

Dive Brief: The antitrust division of the Justice Department demanded more documents and information from Visa in connection with its ongoing investigation of the company’s debit card practices, Visa said in a regulatory filing with the Securities and Exchange Commission on Friday. Visa, the largest U.S. card network company, said it’s cooperating with the investigation. […]

Dive Brief: Marqeta, an Oakland, California-based fintech that provides virtual credit card services to commercial clients, said in a press release today that it has agreed to acquire Power Finance for $275 million in cash. Marqeta will buy the New York-based company to expand on its credit card services and “meet the changing demands and expectations […]

Dive Brief: Visa President Ryan McInerney, who will become CEO of the card network company Wednesday, has tapped a pack of new executives to lead the business as part of an organizational restructuring, he said last week during an earnings call with analysts.  McInerney, who was named the next CEO in November, appointed Visa veteran […]

Layoffs abound in the crypto world, as they have since early May. The year switched anew on the calendar, yet the sector gets no “new year, new me” shift: More than 26,000 jobs were lost in crypto in 2022. By press time, the 2023 tally had numbered no less than 1,900. It’s hard to predict […]

In today’s consumer- and regulation-centric world, accurate credit reporting data is the heart of the credit reporting ecosystem. Handling disputes appropriately is imperative for lenders, as these can reveal potential inaccuracies in furnishing that need to be remediated to avoid customer harm or unwarranted regulatory attention to a lender’s reporting and disputes practices. As we […]

Research has shown that financial inclusion can contribute to improvements in both financial and non-financial outcomes for young women. However, the ~590 million young women in the world (defined as women ages 15-24) are a tremendously diverse group, transitioning through different life stages within vastly different contexts. Considering these differences, among which segments of young […]

Rural agent business models can play a critical role in expanding financial inclusion. As part of CGAP’s Agent Networks at the Last Mile initiative, we’ve identified providers across the world that have been successful in developing such models at scale, therefore playing a critical role in furthering financial inclusion. Bancolombia, the largest bank in Colombia, […]

Layoffs abound in the crypto world, as they have since early May. The year switched anew on the calendar, yet the sector gets no “new year, new me” shift: More than 26,000 jobs were lost in crypto in 2022. By press time, the 2023 tally had numbered no less than 1,900. It’s hard to predict […]

Dive Brief: JPMorgan Chase wants to finance the development of a media business for Italy’s top-tier soccer league, in a deal worth up to €1 billion ($1.08 billion), Reuters reported Thursday, citing sources with knowledge of the matter. The bank’s interest in the 20-club Serie A marks an attempt by JPMorgan to revisit a soccer-focused […]