Mellon Financial Corp. of Pittsburgh announced Thursday that a subsidiary will manage $270 million in an international core equity strategy for the Illinois State Board of Investments.
The agency runs the state's pensions. The Mellon unit is Boston Company Asset Management LLC, which was managing $64 billion in total at yearend.
Expenses and foreign exchange pressured Western Union; while Visa added more blockchains to its stablecoin settlement pilot. That and more in American Banker's global payments and fintech roundup.
Tipalti has developed a set of agentic artificial intelligence agents designed to help businesses navigate transactions and apply for refunds.
The digital bank and lender did not increase its full-year outlook in anticipation of an interest rate freeze.
Kevin Warsh's nomination to be the next chair of the Federal Reserve passed through the Senate Banking committee in a party-line vote.
The Chicago-based fintech, which offers high-cost loans, has agreed to acquire the parent company of BNC National Bank. The deal would grant OppFi a national bank charter, which offers a way around state interest rate caps.
Plaintiffs allege the banks failed to safeguard names, Social Security numbers and account data after a breach at a vendor neither bank has named.
