FundsTech Corp., a marketer of prepaid debit cards for the underbanked, plans to offer a turnkey prepaid card in Europe.
A spokesman for the Ponte Vedra, Fla., company said Thursday that it expects to roll the cards out in 30 to 60 days in Germany. They will be available later in Austria and the United Kingdom, the spokesman said.
FundsTech did not say which companies would issue or process the cards.
The community bank trade group says crypto firms are combining stablecoin rules, Fed master account access and trust charters to replicate banking without bank rules.
The Canadian bank signed an agreement to sell the businesses to Stonepeak, an alternative investment firm in New York. The move will free up capital and allow the bank to invest in higher growth-potential areas.
President Donald Trump has tapped Treasury official John Crews to be the next chair of the National Credit Union Administration.
Parker Group unexpectedly ceased operating last week, then filed for Chapter 7 bankruptcy a few days later as sponsor banks and customers were left scrambling.
The Consumer Price Index for April showed consumer prices rising across all categories, including food and shelter costs, and up 3.8% year-over-year. Grocery prices rose 0.7% from the month prior.
Regulatory proposals are boosting interest for banks to grow in mortgage, but sustainability demands deliberate, rather than reactive, strategy, experts say.
