Funding the cannabis industry is more challenging than traditional banking.
Pot Inc. is celebrating, but not just for the New Year. President Trump has intervened to support the $60 billion cannabis industry by reclassifying the drug, indicating that dispensaries and cannabis-related businesses could finally gain access to banking services that have long been elusive. But things aren’t as clear-cut as they seemed. According to recent […]
PayPal requests a banking license to enhance its support for small businesses.
PayPal Plans to Launch PayPal Bank for Small Businesses This week, PayPal has announced its intention to create a new industrial finance company called PayPal Bank, aimed at assisting small and medium-sized enterprises. The official paperwork was filed with the Utah Department of Financial Institutions and the FDIC to get the ball rolling on this […]
Top US Banking Regulator Says Efforts to ‘Weaponize Finance’ and Crypto Debanking Must Stop
Simply put The OCC discovered that nine prominent national banks either limit or refuse services to legitimate businesses, including those in the crypto sector, focusing on the industry instead of actual financial risk. This has sparked renewed fears regarding “Operation Choke Point 2.0,” as critics assert that regulators have subtly obstructed banks from servicing digital […]
5 banking resources to help you create an emergency fund by the end of the year
Building a Rainy Day Fund: Why It’s Essential A lot of folks in the U.S. find themselves juggling bills at the end of the year, often running low on cash. With everyday costs climbing, the added stress of holiday shopping can make things even tighter. When unexpected expenses pop up, reaching for a credit card […]
Barclays leader states that Revolut gains from not having a UK banking license
Barclays CEO Discusses Fintech Competition The CEO of Barclays has pointed out that fintech competitor Revolut enjoys an advantage by not holding a full UK banking license. This, he argues, allows the quickly increasing startup to sidestep some of the critical consumer duties that traditional banks must adhere to. CS Venkatakrishnan commented at the FT […]
Salameh holds the ‘Shiite Duo’ and FPM responsible for the banking crisis.
Riyad Salameh Claims He’s a Scapegoat in Lebanon’s Financial Crisis In a recent interview with Al Arabiya Business, former central bank governor Riyad Salameh expressed that he has become a “scapegoat” amid Lebanon’s ongoing financial turmoil, denying any responsibility for the losses experienced by depositors or the banking sector’s collapse. Salameh pointed to the impact […]
New Android malware BankBot YNRK aims at banking applications and cryptocurrency wallets
Over the past few years, Android users have faced a rising wave of financial malware. Threats such as Hydra, Anatsa, and Octo show how malicious actors can take control of devices, monitor screens, and hijack accounts without users realizing it. Although security updates have mitigated some of these risks, malware developers are constantly evolving their […]
Senate banking chair plans to vote on cryptocurrency market bill next month
Senate Banking Committee to Vote on Cryptocurrency Bill Tim Scott, the Chairman of the U.S. Senate Banking Committee, announced on Tuesday his intention to bring the cryptocurrency market structure bill to a committee vote next month. Scott expressed optimism during an appearance on Fox Business, stating, “I believe that by the end of this year, […]
Bangladesh aims to implement an open banking system for quicker financial services.
Bangladesh’s Open Banking Initiative BB aims to launch an open banking system by June 2026 Customers can access services from various banks through fintechs A working committee will be formed by December to oversee implementation This system is expected to expedite loan processes Models from India and Singapore are being considered Bangladesh is gearing up […]
Chime raises its 2025 revenue outlook due to an increase in digital banking users.
Chime Inc. Ups Revenue Forecast Amid Growing Demand Chime Inc. announced on Wednesday that it has raised its full-year revenue projection, surpassing Wall Street’s expectations, as the appetite for its digital banking services continues to climb. This news caused a 4% surge in its shares during after-hours trading. Chime is among a group of fintech […]