Fintech

UniCC is the the largest dark web vendor of stolen credit cards, with $358 million in purchases made through the market since 2013 using cryptocurrencies, according to a blockchain forensics firm.

The Louisiana-based company is among a growing number of community banks that have taken on new talent in the wake of competitors' consolidation.

Goldman's second consumer credit card borrows many features of its three-year-old Apple Card, such as instant issuance through a mobile app and an emphasis on virtual account numbers.

Two co-founders of the company are expected to give depositions this month in a suit brought by an entrepreneur who says one of them stole her idea of providing credit to immigrants and turned it into a multimillion-dollar venture. Petal denies the allegations.

The Secured Overnight Financing Rate has benefited — amid the phaseout of Libor — from positive comments by regulators. Is a multirate environment, which some banks would prefer, still possible?

Germany’s finance watchdog fined Deutsche Bank 8.66 million euros ($9.8 million) over its handling of submissions for Euribor, a reference rate at the heart of a scandal that rocked the industry.

Alliance Data Systems, which saw key clients like Pier 1 Imports shuttered during the pandemic, has diversified into buy now/pay later loans and other credit products it offers to consumers directly and through merchants.

Analysts expect loan growth and higher interest rates to drive up equity prices next year, even in the face of the omicron variant and other risks.

The pandemic-era shift to digital payments gave prepaid cards a jolt worldwide. In Canada, the government's likely adoption of the cards for disbursing benefits and other payments could drive further growth as it did in the U.S.

Just three months ago, U.S. banks were still using the expiring benchmark rate for the vast majority of their new loans. But regulators said Friday the transition to alternative rates has accelerated ahead of a year-end cutoff.