Stripe will collaborate with
The deal demonstrates the flexibility of
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There is some risk for Stripe, reports the BBC, because the impact on Stripe's bottom line depends on the popularity of these foreign retailers inside of China. Stripe co-founder John Collison told the BBC these retailers are more likely to sell to Chinese consumers if it's easy for them to collect payments.
Truist Foundation will fund a multiyear economic development initiative to revitalize business corridors in five Southeastern cities; First Horizon has hired Wells Fargo's Shaun McDougall to head consumer banking; Ally Financial commits over $150 million to support workforce development; and more in this week's banking news roundup.
The Federal Reserve said it would rescind its novel activities supervision program created to monitor how banks use emerging tech.
Pressure on Asian merchants that sell to the U.S. caused the Dutch payment company to reduce its outlook. Payment experts say it's a matter of time before other firms face the same challenges.
Advocates warned the Federal Housing Finance Agency that allowing cryptocurrency assets to be used in the underwriting of Fannie and Freddie mortgages risks taxpayer losses and market instability.
By a 2-1 vote, a three-judge panel of the D.C. Circuit Court of Appeals ruled that the CFPB's union did not have a reviewable claim under the Administrative Procedure Act. The union is expected to appeal to the full D.C. Circuit.
Paying for items with your palm or face isn't commonplace yet, but it's coming. What banks need to know.
