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The Brazil-based fintech got conditional approval from the OCC to bring its digital banking services to U.S. customers.
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A Government Accountability Office report warns the Office of the Comptroller of the Currency to clarify which records from the Basel Committee on Banking Supervision should be treated as federal records and thus retained according to the Federal Records Act.
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The credit card issuer said it had little to add to widespread discussions regarding the Trump administration's proposed 10% cap on credit card interest rates.
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Even with the 4 basis point rise in the 30-year fixed over the past two weeks, mortgage rates are still hovering near three-year lows, Freddie Mac said.
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The president has called for a 10% interest rate cap and endorsed the Credit Card Competition Act. Michael Miebach expressed strong opposition to the CCCA while expressing concern about a cap's potential impact on access to credit.
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A one-time accounting change will boost the bank's ability to spend on marketing. Traders flinched at the change; analysts called it a buying opportunity.
