AutoNation Finance originations soar 186% YoY
AutoNation Finance’s originations continued to climb in the first quarter alongside the captive lender’s new-vehicle sales and portfolio. The Fort…
EU foils €600m crypto scam
European authorities have arrested nine people in connection with a cryptocurrency money laundering network that defrauded victims of more than €600m
Automotive Credit Corp. pauses all originations
Automotive Credit Corp. today announced that it is pausing originations activity indefinitely, effective immediately. The Southfield, Mich.-based subprime lender is…
Springtime auto default cycle reappears
Perhaps cyclical improvements in auto finance defaults during the springtime are making a notable return. According to data through March for the S&P/Experian Consumer Credit Default Indices, S&P Dow Jones Indices and Experian reported the auto default rate dropped 7 … [Read More]
2023 predictions: Citi forecasts weakest annual global economic growth in 40 years
A recent Citi Global Wealth Investments (CGWI) report has predicted the weakest annual global economic growth in forty years, outside of the global financial crisis and pandemic shutdowns.
Australian regulator secures court win over Kraken’s local operator
An Australian court has ruled in favour of the country’s securities regulator against the local operator of the Kraken crypto exchange over design and distribution obligations when offering a margin trading product.
FCA hampered by crypto skills shortage
A shortage of crypto skills meant the FCA took longer than planned to register crypto-asset firms under money laundering regulations in 2021, and it still finds it difficult to recruit and retain staff with these skills, acording to a report by the National Audit Office (NAO).
Avaloq sets up fintech venture fund
Swiss financial technology house Avaloq is setting up a venture fund to invest in and support startups and fast-growing fintech businesses
Santander scores victory in APP fraud retrieval case
Santander has scored a significant High Court victory in a push payment fraud case over its responsibility to return £415,000 that was sent to a scam account.
9 regulators propose rule to standardize data submitted to federal financial agencies
Last week, the Consumer Financial Protection Bureau and eight other federal financial regulatory agencies announced a proposed rule to establish data standards for certain information collections submitted to financial regulatory agencies. Officials said the proposal would promote interoperability of financial … [Read More]
Moov raises $27m for open source banking platform
Moov Financial, the US startup behind an open source embedded banking platform, ha raised $27 million in a Series A funding round led by a16z.
Prague Stock Exchange debuts DLT-based settlement system
The Prague Stock Exchange is implementing distributed ledger technology in the settlement of securities under the EU’s DLT pilot regime.
Apex acquires majority stake in tokenisation firm
Fund administrator Apex Group has acquired a controlling stake in Luxembourg-based Tokeny in a move designed to spearhead a push into the tokenisation market.
Square joins S&P 500
Shares in Block rose on Monday as the Jack Dorsey-founded fintech joined the benchmark S&P 500 index.
PSR says APP reimbursement rules are promoting vigilance, not complacency
Research published by the Payment Systems regulator indicates that reimbursed fraud victims feel more vigilant about fraud risks, not less.