Finance

Some contracts are not "adequately" defining which party — the bank or the vendor — is responsible for managing risks, the agency said.

Growth in the KeyStone State was close to or surpassed national averages across a number of fields.

PayPal has joined a funding round for startup Cambridge Blockchain, reportedly the first investment the online payments giant has made in distributed ledger technology.

As N26 schedules its launch for midyear, it will face off against other startups and mobile-only spinoffs from incumbent financial institutions.

Jumia Technologies AG said Mastercard Inc. has agreed to invest 50 million euros ($56 million) in a private placement ahead of the Africa-focused online retailer’s planned initial public offering in New York.

Restaurant point of sale and back-office management provider Toast raised $250 million in a Series E funding round, valuing the company at $2.7 billion, and is adding David Yuan from TCV to its board of directors.

The Los Angeles bank will take a $1.4 million hit to earnings after the multifamily properties sold for less than their book value.

The flagship division is on course to miss next year’s financial projections; Investors may be using SOFR swaps as a hedge against expected volatility.

Credit unions in Arkansas and Florida argue that allowing the industry to take deposits from cities and other public entities would help with funding and control for risk.

Community Bank of the Carolinas must raise about $4 million before becoming the state’s first new bank since the financial crisis.