Community lenders that make it through the next decade will have embraced technology and attracted younger customers, the Treasury secretary said at a Fed conference Thursday.
A subsidiary of the investment bank carried out invoice “factoring” between the bankrupt auto parts supplier and retailers like Walmart that bought First Brands’ materials.
Discover how to build a data strategy that drives compliance, governance and measurable AI impact. Practical steps for sustainable business growth. Download the AI guide now.
The regulator is rolling out changes to its regulation and supervision of community banks – which it now classifies as lenders with up to $30 billion in assets – including giving examiners more discretion.
Coinbase has been mulling such a move since April. Since then, other crypto firms such as Circle, Ripple and Paxos have applied for a national trust charter.
City officials filed a lawsuit against the fintech, alleging it operates as a “modern-day payday lender,” charging customers exorbitant interest despite marketing its loans as “zero interest.”
