Barclays PLC, the U.K.'s second-biggest bank, reorganized itself into three separate divisions and plans to sell or close a unit in Indonesia at a total cost of about 100 million pounds ($150 million).
The charge will be taken at Barclays Corporate, a lender to midsize and large businesses that will be run alongside investment banking, Barclays said Monday. The other divisions are global retail banking and Absa, the South African unit. Barclays will sell or close Bank Akita in Indonesia.
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
The state's comptroller of public accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
