Rene Jones is one of four Black CEOs in the Fortune 500, and the chairman and CEO of M&T Bank said he is no stranger to stereotyping. Growing up the son of an African-American father and Belgian m...
Tag: Banks
Deutsche Bank says not ‘practical’ to exit Russia business
Deutsche Bank said Thursday it is not “practical” to close its Russia business, despite similar moves by major corporations seeking to distance themselves from the country over its invasio...
JPMorgan says labor shortage requires unconventional hiring
JPMorgan Chase says that companies can deal with global labor shortages in part by tapping the neurodiverse and people with criminal backgrounds. The New York-based bank has hired thousands of people ...
Major League Soccer reaches a deal to support Black banks, aiming to help close the racial wealth gap
New York City FC forward Valentín Castellanos (11) passes the ball forward against Portland Timbers midfielder Diego Chara (21) during the MLS Cup Final between the Portland Timbers and New York City ...
JPMorgan is winding down its Russia operations amid widening business exodus over Ukraine war
JP Morgan CEO Jamie Dimon listens as he is introduced at the Boston College Chief Executives Club luncheon in Boston, Massachusetts, U.S., November 23, 2021. Brian Snyder | Reuters JPMorgan Chase, the...
Three other banks join the USDF consortium
Amerant Bank, ConnectOne Bank and Primis Bank have joined the founding members of the USDF consortium, consisting of New York Community Bank, Synovus Bank, NBH Bank, First Bank and Webster Bank, which...
Investing app Acorns taps ‘choppy’ private markets at $1.9 billion valuation after scrapping SPAC
Noah Kerner, CEO of Acorns. Adam Jeffery | CNBC Acorns, the fintech start-up that scrapped plans to go public in January, has raised $300 million from private investors, CNBC has learned. The savings ...
Russian Banks Seeks Help from China’s UnionPay amid Crackdown from Mastercard & Visa
Following the service cut from American payment giants Mastercard and Visa, the Central Bank of Russia (CBR) has informed its citizens that credit and debit cards issued by these service providers wil...
Virginia Passes Bill That Allows Banks To Provide Custody for Crypto Assets
The state of Virginia has unanimously passed a new cryptocurrency bill that allows banks to provide custody for digital assets. According to a report by Fox Business, HB 263 passed the state’s legisla...
Why Virginia Could Let Banks Offer Crypto Custodial Services
Per a report from TheStreet, Virginia will allow banks to offer crypto custody services. The state’s House of Delegates recently approved a banking bill last week to pass the legal framework to suppor...
Poll Suggests ECB May Wait Until Q4 to Raise Rates, Several Banks Expect a Series of Fed Rate Hikes This Year – Economics Bitcoin News
A recently published Reuters poll suggests the European Central Bank (ECB) may wait until the last quarter of the year (Q4) to raise its first interest rate in over ten years. The poll’s author detail...
Virginia Senate Votes to Support New Bill by Permitting Banks to Offer Crypto Custody Services
With just a signature away, banks operating in the United States of Virginia will soon be able to offer cryptocurrency custody services. Based on the unanimous vote from the Virginia Senate, the propo...
Russian banks turn to China as Visa, Mastercard suspend business
Sberbank PJSC said it’s looking at the possibility of issuing cards using Russian payments system Mir and China’s UnionPay after Visa Inc. and Mastercard Inc. suspended operations following the invasi...
Russian Banks Turn to China to Sidestep Cutoff From Payments Systems
Russian banks that have been cut off from global payments networks are turning to China’s state-owned UnionPay system as the country tries to sidestep boycotts by Western businesses for its invasion o...
Virginia Senate allows state banks to offer crypto custodian services
Crypto assets custody services have been approved in Virginia, United States. Recently, the senate unanimously approved a bill amendment request that allows traditional banks operating in the Commonwe...
Central Banks have been tinkering with digital currencies, and IMF approves
IMF has been pro-CBDC for a while, and the Central Banks from all around the world have been looking to digital currencies to replace cash and many have come a long way. Recently, IMF President Krista...
U.S. State Virginia Will Allow Banks To Offer Crypto Custody Services
Virginia’s Senate on Friday unanimously approved a bill that will allow banks in the state to provide crypto custody services, granted they have enough resources to manage the associated risk. The bil...
US Virginia Senate allows state banks to offer crypto custody services
The Senate of Virginia in the United States unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custod...
Virginia Will Now Allow Banks To Offer Crypto Custody Services
Virginia’s Senate on Friday unanimously approved a bill that will allow banks in the state to provide crypto custody services, granted they have enough resources to manage the associated risk. The bil...
Binance Puts Restrictions on Cards From Russian Banks
The stance taken by crypto projects earned greater importance in the war between Russia and Ukraine. Ever since the war was declared, the mobility of cryptocurrencies increased by a greater degree in ...
Citigroup CEO Jane Fraser sees ‘tremendous upside’ in stock after tepid Investor Day response
Jane Fraser, chief executive officer for Latin American at Citigroup Inc., smiles during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 29, 2019. The confe...
EU Bans 7 Russian Banks from Accessing SWIFT
The European Union has confirmed on Wednesday that it will exclude seven Russian commercial banks from accessing the international banking messaging system, SWIFT. These blacklisted banks are Russia’s...
EU will cut off 7 Russian banks from SWIFT, with ordinary Russians facing consequences
On Wednesday, the European Union announced that within 10 days, it intends to remove seven Russian banks from the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, messaging syste...
Mastercard Pulls Russian Banks from its Payment Network
American payment services giant Mastercard has cut off Russian financial institutions from its payment network, a move it said is in compliance with the sanctions being meted by the United States gove...
Avalanche (AVAX) Price Prediction: AVAX Aims for $100 as Russia’s Ukraine Invasion Clouds Central Banks Aggressive Rate Hike Bets
Avalanche (AVAX) price edges lower on Wednesday amid global risk aversion. There are many factors playing in the market ranging from the U.S Federal Reserve and some of its major central banking peers...
Cambridge Centre for Alternative Finance Launches Digital Assets Research Project With 16 Banks – Bitcoin News
On Tuesday, Cambridge Centre for Alternative Finance (CCAF) at Cambridge Judge Business School announced a new research initiative focused on the “growing digital asset ecosystem.” According to CCAF, ...
EU Excludes 7 Russian Banks From SWIFT
The bloc, alongside the U.S., U.K., Canada, France, Germany and Italy, announced it was “committing” to the move on Saturday. Russia invaded Ukraine last week on a pretext of either supporting breakaw...
Citigroup releases financial targets at first Investor Day under CEO Jane Fraser
Jane Fraser speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 29, 2019. Kyle Grillot | Bloomberg via Getty Images Citigroup CEO Jane Fraser is s...
Venezuela Might Be Affected by Russian Banks’ SWIFT Suspension – Economics Bitcoin News
Analysts from Venezuela have expressed their worries about the expulsion of a number of Russian banks from SWIFT, an international messaging system that allows the interconnection of banks. These meas...
China Shunning Russian Coal With Banks Nervous Over Sanctions
(Bloomberg) — Chinese power plants and steelmakers are looking for alternatives to Russian coal after some domestic banks suggested they avoid purchases due to the mounting sanctions being imposed on ...
Putin signs decree to prohibit leaving Russia with more than $10,000 in foreign currency
Russian President Vladimir Putin on Tuesday signed a decree that prohibits taking more than $10,000 worth of foreign currency in cash and “monetary instruments” out of Russia. The move comes in respon...