Hugh Son

The Archive

Dave, which makes money by extending loans to cash-strapped Americans, is emblematic of a larger shift that's still in its early stages, analysts say

December 20, 2024 | 01:30PM

Banking app Dave, back from the brink, is this year's biggest gainer among financials with 934% surge
Zelle, a peer-to-peer payments network run by bank-owned fintech firm Early Warning Services, allows for instant payments to other consumers and businesses

December 20, 2024 | 11:04AM

CFPB sues JPMorgan Chase, Bank of America and Wells Fargo over Zelle payment fraud
Banks with commercial real estate exposure have struggled after the Federal Reserve hiked interest rates through 2023, leaving them with unrealized losses

December 12, 2024 | 07:07PM

Flushing Financial seeks to raise $70 million to shore up capital as it unloads underwater bonds
The CFPB says the rule will save American consumers $5 billion annually

December 12, 2024 | 08:27AM

CFPB announces rule limiting bank overdraft fees
Threats against corporations have been rising for years, fueled in part by the echo chamber of social media and an increasingly polarized political environment

December 06, 2024 | 05:06PM

'This was preventable’: Corporate world shudders at new risks after slaying of UnitedHealthcare CEO
CFPB regulation meant to save consumers $10 billion a year has resulted in higher costs for some, as banks react by hiking interest rates and charging new fees

December 03, 2024 | 08:00AM

Banks hit credit card users with higher rates in response to regulation that may never arrive
CNBC spoke to a dozen customers caught in the Synapse fintech predicament, people who are owed sums ranging from $7,000 to well over $200,000

November 22, 2024 | 11:00AM

'I have no money': Thousands of Americans see their savings vanish in Synapse fintech crisis
The most popular apps covered by the rule collectively process more than 13 billion consumer payments a year, the CFPB said

November 21, 2024 | 09:58AM

CFPB expands oversight of digital payments services including Apple Pay, Cash App and PayPal
Banks are under pressure to kick criminals off their platforms and compensate more victims as regulators and lawmakers focus on the harm done by digital scams

November 13, 2024 | 10:00AM

Banks are reporting a ten-fold surge in digital scams, cybersecurity firm BioCatch says
JPMorgan is investigating thousands of cases related to the glitch, which highlights the risk that social media can amplify vulnerabilities found at a bank

October 28, 2024 | 01:32PM

JPMorgan begins suing customers who allegedly stole thousands of dollars in 'infinite money glitch'

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