CFPB proposes rule for paycheck advance products
The interpretive rule is designed to help ensure US workers know the costs and fees of paycheck advance products.
UK banks hail Regulated Liability Network experiments
The UK’s biggest banks have completed the experimentation phase of a Regulated Liability Network, claiming a number of benefits that the financial market infrastructure for programmable money operating on a multi-bank shared ledger could bring.
TSB to shutter branches and cut jobs in cost saving exercise
In response to news reported by Sky, TSB have provided comment to Finextra after Sabadell CEO Cesar Gonzalez-Bueno was questioned about a £29 million provision set aside for restructuring within the UK bank.
IAA sees salvage transactions with negative equity remain at 3-year high in Q2
Negative equity can be significant hurdle to clear when dealerships handle trades, as Edmunds recently reported 7.7% of trade-ins toward a new-vehicle purchase during the second quarter were upside down by more than $15,000. Negative equity can be a conundrum … [Read More]
Visa partners Aquanow on stablecoin settlement in Cemea
Visa has teamed up with digital asset platform Aquanow to expand its stablecoin settlement capabilities across the Central and Eastern Europe, Middle East and Africa (Cemea) region.
Carvana launches real-time down payment capabilities
Carvana has implemented request for payments technology and instant payments capabilities for down payments on vehicle purchases, allowing consumers to…
From rates to refunds: Preparing for an auto loan refinancing bump in 2025
As we approach 2025, the auto lending landscape is poised for a significant shift, driven by the Federal Reserve’s interest…
US GDP growth was slower last quarter on soft consumer spending
The US economy grew at a slower pace in the first quarter than initially reported, primarily reflecting softer consumer spending…
U.S. Bank originations up 21.5%
U. .S. . Bank’s originations climbed year over year in the second quarter as banks’ Q2 earnings so far have…
Auto credit availability in November climbed to highest point in 3 years
Perhaps dealers aren’t expecting an immediate lift from the Federal Reserve lowering interest rates for the third time this year. But overall credit availability already appears to be as good as it’s been in about three years. Cox Automotive reported … [Read More]
Ripple to acquire Standard Custody
Ripple has agreed to acquire Standard Custody & Trust Company, an enterprise-grade regulated platform for digital assets.
GM appoints Turovsky as first chief AI officer
Barak Turovsky, GM Barak Turovsky has joined General Motors as its first chief AI officer, according to a post shared…
Fifth Third auto net charge-offs rise in Q4
Fifth Third Bank’s auto outstandings grew in the fourth quarter while credit losses rose. The bank’s indirect secured consumer portfolio,…
SecureKey taps IBM to put identity on the blockchain
IBM has rolled out an enterprise-ready build-your-own blockchain platform and announced a collaboration with Canada’s SecureKey on the commercial development of a federated identity service using the Hyperledger Frabric.
Visa issues green bond, appoints chief sustainability officer
Visa has burnished its environmental credentials, pricing its first green bond offering, totaling $500 million, and appointing Douglas Sabo as its first chief sustainability officer.