Search Results for "credit suisse"
JP Morgan Chase to Pay $2.5 Million to Settle Class Action Lawsuit Over Wrongfully Incurred Crypto Charges
JPMorgan Chase has settled a lawsuit over unannounced changes made to the fee structure applied to crypto transactions using its credit cards in 2018. The American bank agreed to pay $2.5 million to settle a class-action lawsuit regarding its decision made in 2018 to treat cryptocurrency purchases with Chase credit cards as cash advances, ensuing in higher fees. However, JPMorgan is not admitting to any wrong-doing as part of the deal.
Russia’s Largest Bank Sberbank Buys 5,000 Blockchain ATMs Despite Authorities' Plan to Ban Crypto
Sberbank, Russia’s largest bank, is purchasing more contactless ATMs that are powered by blockchain. The banking giant is making such a move despite an upcoming bill that aims to penalize individuals and firms that use and trade cryptocurrencies in financial transactions. Sberbank’s ATMs have nothing to do with cryptocurrencies as they do not act as BTMs (Bitcoin ATMs). The banking institution just intends to cut the need for physical contact associated with the use of bank debit/credit cards amid the coronavirus pandemic. Throughout the COVID-19 epidemic, Sberbank has been preferring to cut down the use of plastic cards because of health concerns.
ConsolFreight Releases New Proof Of Concept To Advance The Role Of Logistics Providers In Trade Finance
"Banks are short-sighted in determining and validating the value of the goods being financed. They have drawn a very distinctive line between Logistics and Financial institutions, where the value of the assets is entirely disconnected from the process. Thus, leaving an untapped market of unfulfilled credit demand estimated at $1.6 trillion," says ConsolFreight's CEO, Ernesto Vila.
A Brief History of US National Credit Defaults
Which nation’s credit is the most reliable? Many casual economic observers would say “America” without hesitation. But do the United States really have a stellar-credit record? No actually, not really at all. In fact, a conscientious look over the last few centuries would reveal that the nation’s brief history is riddled with national credit defaults.
Bangladesh Cashing in into the Blockchain Bandwagon Ahead of the 'Fourth Industrial Revolution'
Blockchain technology has seen an increasing amount of adoption, from large conglomerates researching its uses and testing it out, to officials such as President Xi Jinping, endorsing and seizing the opportunities that it may bring. Dr. Mohammad Saifur Rahman, the US-based blockchain expert, said that blockchain can have applications in financial industries, including remittance, credit, and payment industries, as well as e-governance in Bangladesh.
Nobel Laureate to speak at Asian Financial Forum Global business leaders view post-COVID Economy in January
17 December 2020 – In light of the ongoing COVID-19 pandemic, the 14th Asian Financial Forum (AFF) will be held virtually on 18 and 19 January 2021. Under the theme “Reshaping the World Economic Landscape”, the forum will examine the challenges at hand and strategize the road to recovery and beyond with more than 150 influential global financial experts, policymakers, business leaders, economists, investors, and entrepreneurs.
Libra Appoints New Chief Compliance Officer, Third C-Suite Executive Appointed with a Strong Compliance Track Record
The Libra Association appointed Sterling Daines as its new Chief Compliance Officer, who is currently the Managing Director and Global Head of Financial Crime Compliance at Credit Suisse. He is expected to leave his position at Credit Suisse and join the Libra Association later this year. Prior to Credit Suisse, he was the Managing Director and Deputy Head of Financial Crime Compliance at Goldman Sachs and has worked as a consultant to the US Department of Justice and the Financial Crimes Enforcement Network (FinCEN).
Fintech not Big Tech: Square is a Greater Threat to Banks than Google and Amazon
A recent survey of 300 senior executives at US-based mid-sized financial institutions found that more than half of bank and credit union executives view Big Tech companies like Amazon and Google as significant threats to the banking industry. Meanwhile only a third believe financial technology (fintech) firms will be a threat in the future, but are they sleeping on Square, Jack Dorsey’s financial technology venture whose stock price recently recorded a 20 month high.
Wales Eyes Own Digital Currency for Speedy Business Transactions
Wales has set its eyes on creating a complementary digital currency. It has been speculated that it could enhance the nation’s economy by approximately £250m in the next ten years.
Bitcoin Pizza Guy and the Tenth Anniversary of the Most Regrettable Purchase in Human History
On May 22, 2020, the 10th anniversary of Bitcoin Pizza Day will be marked. It is because ten years ago, on this day Laszlo Hanyecz, aka ‘Bitcoin Pizza Guy,’ traded his 10,000 BTC for two Papa John’s Pizzas with eighteen-year-old Jeremy Sturdivant, aka jercos.
Bitcoin Network Transacts a Whopping $8.9 Billion in a Single Hour
The Bitcoin network has reached an unprecedented level in terms of chain volume as it transacted 8.9 billion in one hour. Rafael Schultze-Kraft, Glassnode’s co-founder, ascertained that this movement made history because it was the highest hourly volume of Bitcoin to be recorded in its 11-year existence.