Bureau of Financial Protection

US consumer bureau orders fintech firm LendUp to halt new loans, pay penalty

The US Consumer Financial Protection Bureau (CFPB) ordered LendUp Loans to pay a $100,000 penalty, stop issuing new loans and halt collecting on certain outstanding ones after repe...

Cyber printed

Banks ordered to promptly flag cybersecurity incidents under new US rule

US banking regulators have finalized a rule that directs banks to report any major cybersecurity incidents to the government within 36 hours of discovery.

Commonwealth Bank: Australia

Australia’s CBA breaks ranks to offer cryptocurrency trading

Commonwealth Bank of Australia will become the country’s first to offer retail clients crypto services, Australia’s largest bank has said, marking a change from the sec...

Platform Economy: Starting a simple business with Shopify e-commerce

Banks beware, outsiders are cracking the code for finance

Anyone can be a banker these days, you just need the right code.

Google Cloud

For bank regulators, platform giants are now ‘too big to fail’

More than a decade on from the financial crisis, regulators are spooked once again that some companies at the heart of the financial system are too big to fail. But they’re n...

Platform industry news: Oracle Corp

Oracle unit partners with Everest to bring blockchain to banks worldwide

Oracle Financial Services Software, a unit of Oracle Corp, has teamed up with financial technology provider Everest to bring blockchain to banks worldwide to enhance their product ...

JP Morgan Chase

USbanks deploy AI to monitor customers and workers amid tech backlash

Several US banks have started deploying camera software that can analyse customer preferences, monitor workers and spot people sleeping near ATMs, even as they remain wary about po...


Canadian banks join the boycott of Facebook platforms

Canada’s biggest lenders confirmed that they had joined a widespread boycott of Facebook Inc begun by US civil rights groups seeking to pressure the world’s largest soc...

European Union

EU banks to take on Visa and Mastercard with new payments system

Sixteen banks from Germany, France and three other euro zone countries said a “truly European” payments system was expected to be up and running in 2022 to fully digita...

Platform News: Wall Street in New York

Tech firms sweeten deals for US banks cutting costs in crisis

Top technology services businesses are offering payment deferrals, discounts of up to 20% and other sweeteners to some US banks to keep their business as COVID-19 forces Wall Stree...

Platform Industry: Zoom meetings

Stay off Zoom and Google Hangouts, Standard Chartered CEO tells staff

Standard Chartered is the first major global bank to tell employees not to use Zoom during the coronavirus pandemic due to cybersecurity concerns, according to a memo seen by news ...