Loans

The stock market and U.S. stock funds rose for the second consecutive month. However, It is understandable if fund investors do not feel giddy about the market. The numbers remain ugly for investors so far this year. The average U.S.-stock fund rose 5.3% in November, according to Refinitiv Lipper data, but is still sitting on...

According to Goldman Sachs CEO David Solomon, the U.S. economy may be heading for a downturn that could make investment and business decisions more difficult. “I think it’s a time to be cautious, and I think that if you’re running a risk-based business, it’s a time to think more cautiously about your risk box, your...

According to Chicago Federal Reserve President Charles Evans, the central bank remains committed to reducing inflation even if it means cutting jobs. Three weeks before the Fed is expected to approve its fourth consecutive 0.75 percentage point interest rate increase, the central bank official told CNBC he hopes to minimize economic damage. “Ultimately, inflation is...

On Tuesday, cryptocurrency lender Nexo announced that it had acquired a stake in a federally regulated U.S. bank, paving the way for the company to offer banking services to Americans. Based in Zug, Switzerland, Nexo announced it has agreed to purchase an undisclosed stake in Hulett Bancorp, which owns Summit National Bank, a little-known institution....

Gary Gensler, SEC chair, urges the brokerage industry to look for alternatives to payment for order flow. An idea is originating from Apex Clearing, according to CNBC. SoFi, Webull, and other fintech companies use the clearing firm to manage their trades and develop a marketplace for matching customer orders. According to Apex’s CEO, an “auction”...

Despite making a strong comeback in July and early August, the benchmark S&P 500 Index is still down 15% year to date. A team of Goldman Sachs analysts — led by chief investment officer David Kostin — have just compiled a list of stocks that could be an opportunity for income hunters. These companies offer...

To counter threats from fintech companies such as Stripe and Block, JPMorgan Chase has acquired a payments startup called Renovite. As a leading player in the global payments industry, the bank claims that acquiring Renovite of Fremont, California, will enable it to roll out new merchant solutions more quickly. By transaction volume, JPMorgan is the...

During his speech on Wednesday, the Federal Reserve’s new banking regulator called for action on stablecoins, climate change preparations, and safety and fairness in the financial sector. Since his confirmation by the Senate, Fed Governor Michael Barr, who holds the title of vice chair for supervision, gave his first policy speech. His priorities include urging...

MX has named PayPal executive Jim Magats as its new CEO. MX competes against Plaid in helping connect financial institutions and fintech companies. According to MX founder Ryan Caldwell, Magats, a nearly two-decade PayPal veteran, most recently senior vice president of Omni-payment solutions, will join MX in mid-August. “We’re thrilled with the resonance that we’ve...

After plummeting in the first half of the year, the S&P 500 has bounced higher like a basketball hitting a trampoline. The benchmark US stock index was up 17% from its low of June as of early Friday. It is even more optimistic elsewhere in the market. With Amazon and Tesla soaring more than 20%...