Finance

Just two months after going all-in on crypto, venture firm Full Tilt Capital LLC has been acquired by a hedge fund looking to make a big bet on blockchain.

The team that founded marketplace lender Avant Inc. raised about $15 million to start a firm that will use blockchain technology and digital tokens to motivate companies to share data about customer identities and credit worthiness.

The San Francisco-based online lender reported a net loss of $115 million for 2017, more than half of which was connected to warrants issued in a deal that stabilized the struggling firm.

Mid-Southern Bancorp could use proceeds to make more loans or to pursue acquisitions.

An affiliate of the private-equity firm Angel Oak is packaging bank-issued sub debt to minimize risk for bondholders. It recently completed its first securitization and has plans to issue two deals a year.

Bank stocks just took a huge beating. The KBW Bank Index plunged 8 percent this week, its worst showing since January 2016.

The company said it could raise up to $25 million through the initial public offering.

With 1.3 billion people who are mostly unbanked in an economy where 85% to 95% of all transactions are still conducted in cash, few other markets have such an opportunity to modernize payments.

Are American college students using their student loan dollars wisely? A LendEDU study explored how those funds are spent.

Constellation Digital Partners, LLC, has raised $26 million in the last 10 months.

UBS agreed to pay $230 million to resolve a New York state probe into the Swiss bank's marketing and sales of residential mortgage-backed securities before the financial crisis, boosting the state's recoveries in the investigation to almost $4 billion.

The Federal Reserve raised interest rates by a quarter-point at its Wednesday meeting and more increases are expected this year. Here's what credit unions need to know to be prepared.

The Alabama company will enter Sarasota, Fla., after buying Premier for $52 million.

The $6 million acquisition will add four businesses with a total of $700 million in assets under management.

In an update on the Deposit Insurance Fund, FDIC staff said the fund's ratio of reserves to estimated deposits will likely reach the required 1.35% level by the second half of 2018.

The Indiana-based credit union made significant gains in membership, lending, assets and more.

Gulfside Bank, which would be based in Sarasota, is angling to become southwest Florida's first new bank in a decade.

Credit unions will be watching as the Senate's regulatory relief bill heads to the House, but government spending and interest rates may delay that process by several weeks.

Bank stocks in recent months were a fallback for suffering tech investors, but now both sectors are getting hit. It's a sign of tightening interest rate spreads — and more volatility to come.

Organizers want to open the first new bank in Michigan since 2009, while a third group in Florida has filed a de novo application.