Facebook's Libra project didn't come from nowhere. The social network has a long history of experimenting with digital payments, and launched a separate (and ill-fated) digital currency a decade ago.
The market has changed a lot in the intervening years, but Facebook never gave up on its plans to launch a currency. It's clear that Facebook itself has changed too, and controls a lot more data and expertise than it did in its first years as a payments company.
Isabel Casillas Guzman, administrator of the Small Business Administration, wants the agency to get involved in direct lending, a practice that was discontinued during the Clinton administration. Congress has not embraced the idea, to put it mildly.
GLS had already stopped issuing first-use plastic as of 2018, but it wasn't enough for the eco-minded German bank. Fake plastic still looks and feels like plastic.
The top five banks and thrifts have combined deposits of more than $7.5 trillion.
The Federal Deposit Insurance Corp. is arguing that Colorado has the right to establish an interest rate cap that all state-chartered banks must follow. Three industry groups are suing the state in an effort to stop its attempted crackdown.
The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
