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Mobile Payments provider Bling Nation has secured $20 million in Series B funding, led by new investor Balderton Capital, with additional funds raised primarily from existing investors, including Lightspeed Venture Partners, which led the company's Series A financing round. In connection with the transaction, Bling Nation added Roberto Bonanzinga, partner at Balderton Capital, to the company's board of directors.
The president's son has seemingly cut ties with the digital asset fintech ALT5 Sigma, whose shares lost 90% of their value after purchasing the tokens.
The Consumer Financial Protection Bureau finalized a new version of a small-business lending rule that took 17 years to get over the finish line. Banks are still lobbying for the rule to be repealed.
New York extracted $5 million and a broker registration from Uphold over its promotion of CredEarn, a yield product whose issuer collapsed in 2020.
A federal judge harshly criticized the settlement of a civil suit between the Department of Justice and a Texas land developer.
The San Antonio-based bank reported annual declines in net charge-offs and nonaccrual loans, extending a run of solid credit-quality trends at Texas-based regional banks.
President and CEO Enrique Lores, who took the payment company's top job in March, is looking to turn the company around with fresh talent and a renewed focus on what he says are the company's fundamentals.
