Category: Finance

Crypto lending platform Nexo will pay $45 million to settle Securities and Exchange Commission allegations that it sold unregistered securities through its Earn Interest Program, the agency announced Thursday. Half of the amount will go to the SEC, and the other $22.5 million represent fines from various state-level regulators. “We charged Nexo with failing to […]

Dive Brief: Capital One eliminated 1,100 “agile” technology roles this week, Bloomberg reported Thursday, citing unnamed sources.  “The agile role in our tech organization was critical to our earlier transformation phases but as our organization matured, the natural next step is to integrate agile delivery processes directly into our core engineering practices,” Capital One said.  […]

Dive Brief: Fidelity National Information Services, known as FIS, appointed two new directors to its board, Mark Benjamin and Lee Adrean, following the resignation of one board member, Mark Ernst, who served for only a few weeks, according to a company filing with the Securities and Exchange Commission. Ernst exited on Jan. 13 after a […]

Dive Brief: JPMorgan Chase paid CEO Jamie Dimon $34.5 million last year, according to a Securities and Exchange Commission filing Thursday. That’s the same level of compensation he received in 2021. JPMorgan’s board “committed to not grant any special awards to [Dimon] in the future,” it said Thursday — a nod to the $52.6 million […]

Dive Brief: Nearly 35,000 PayPal accounts were accessed via a credential stuffing attack, exposing personal information including names, addresses, social security numbers, tax identification numbers, and dates of birth, the company said Wednesday. The financial services company said unauthorized parties accessed PayPal customer accounts between Dec. 6 and Dec. 8. PayPal discovered the breach on […]

Crypto lender Genesis Global Capital is preparing to file bankruptcy as soon as this week, Bloomberg has reported, citing people familiar with the situation. The firm, a subsidiary of Digital Currency Group, has been in negotiations with various creditor groups to remedy a liquidity crunch, according to Bloomberg. Genesis has had a rough year, starting […]

Billtrust’s new private equity owners plan to pursue mergers and acquisitions to build the business-to-business payments company into a broader platform for finance executives, the company’s recently installed CEO said. After the Swedish investment firm EQT purchased Billtrust for $1.7 billion last September, it named Sunil Rajasekar as CEO of the company in December. Lawrenceville, New […]

Dive Brief: Bank of America has initiated a partial hiring freeze as it attempts to quell costs and braces for a possible recession, Bloomberg, which cited sources familiar with the matter, reported on Wednesday. Executives at the Charlotte, North Carolina-based bank have been told to pause hiring except for the most vital positions, according to […]

As the new year begins, it’s natural to look at the environmental, social and governance policy debate and anticipate how the players would escalate their arguments.  Last year, 19 Republican attorneys general wrote perennial ESG punching bag BlackRock with concerns over the asset manager’s strategy.  Several of the same AGs, two months later, launched investigations […]

Dive Brief: Wakefern Food, which runs grocery banners such as ShopRite, Price Rite and Fairway Market, has opened an autonomous convenience store with frictionless checkout technology from Trigo at its corporate campus in Edison, New Jersey, the East Coast retailer cooperative said Tuesday in an emailed press release. Called The Pantry, the store is a […]