Mastercard and PayPal rolled out a new partnership with banks geared toward accelerating fintech development and digital and financial inclusion in the Latin America and Caribbean regions.
U.K. insurers were urged by a financial regulator on Friday to pay business interruption claims in full as soon as possible, following a High Court ruling in favor of policyholders facing steep losses from the pandemic.
The National Credit Union Administration reported a second-quarter equity ratio close to dangerous levels as a result of the pandemic, and temporarily amended lending regulations for U.S. real estate transactions.
Mackenzie Financial and insurance holding firm Great-West Lifeco have acquired a strategic interest in Northleaf Capital Partners, advancing an expansion for Mackenzie into private equity investment.
The second-in-command at the Federal Reserve Bank of New York will step down from his post in February, leaving a vacancy in a powerful post at the U.S. central bank as it steers through the pandemic-related downturn.
The U.S. Securities and Exchange Commission imposed new restrictions preventing brokers from publishing quotations for over-the-counter stocks unless issuer information is available to the public.
The U.S. Government Accountability Office found that sales representatives for several health insurers engaged in potentially deceptive practices by misleading customers about whether preexisting conditions were covered in policies.
Fidelity Investments updated its open architecture digital store on Wednesday to include integrations with more than 200 third-party fintech providers, streamlining new technology options for financial advisors.
Private Swiss bank Julius Baer said it is in “advanced discussions” with the U.S. Department of Justice to resolve a money laundering and corruption probe regarding the world soccer governing body FIFA.
The European Commission will grant an extension for EU banks to access U.K.-based clearing houses for an additional 18 months to ensure a smooth post-Brexit transition, several news outlets reported on Tuesday.
Fintech MoneyLion will begin tailoring its investment options to customer preference with the launch of its thematic investing portfolios, which include clean energy, artificial intelligence and social responsibility.
U.S. states have launched a program for payments firms to undergo a single exam that satisfies all state regulatory requirements in an attempt to streamline the supervision of nonbank financial technology companies.
Investment management firm Franklin Templeton formed a partnership with Singapore startup Razer Fintech to collaborate on a digital wealth management platform that appeals to younger generations.
Citigroup may soon face regulatory sanctions over failures to improve risk-management technologies, and the concern may have helped drive its decision to appoint a new CEO, the Wall Street Journal reported.
A former AIG unit executive will join Lloyd's of London in a new U.S.-focused role as the U.K.-based insurance marketplace builds out a team focusing on North American retail, wholesale and reinsurance brokers.
U.S. banks and other lenders will face revamped investor disclosure requirements from the Securities and Exchange Commission as part of the agency’s effort to overhaul a series of decades-old regulations.
Morgan Stanley said it will invest $15 billion in low-income areas in the U.S. in concert with its bid to acquire online trading platform E*TRADE, the financial services company said Thursday.
A team of former Wells Fargo financial advisors that managed about $500 million in assets has left to form a new practice affiliated with LPL Financial’s strategic wealth services division.
Citigroup revealed to investors on Thursday that it incorrectly stated the maturity date of a $1 billion subordinated bond issued in 2013 as 2025, when the bond won’t actually mature for another 18 years, in 2043.
American Express has hired Colleen Taylor as president of its merchant services division in the U.S., a newly created role that manages the relationships with millions of merchants that accept the payment network's card.