Banks

The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024.Bing Guan | Bloomberg | Getty ImagesNew York Community Bank said Thursday it lost 7% of its deposits in the turbulent month before announcing a $1 billion-plus capital injection from investors led by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital. The bank had $77.2 billion in deposits as of March 5, NYCB said in an investor presentation tied to the capital raise. That was down from $83 billion it…

The Reserve Bank of India’s latest diktat to banks and card schemes like Visa and Mastercard to refrain from entering into exclusive arrangements could disrupt long-term symbiotic relationships between these two sectors.The directive is also set to disrupt the way banks undertake their credit card businesses and the commercials of those deals, according to senior bankers in the know.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in…

Federal Reserve Chairman Jerome Powell fist bumps Treasury Secretary Steven Mnuchin after a House Financial Services Committee hearing on "Oversight of the Treasury Department's and Federal Reserve's Pandemic Response" in the Rayburn House Office Building in Washington, U.S., December 2, 2020.Greg Nash | ReutersThe $1 billion-plus injection that New York Community Bank announced Wednesday is the latest example of private equity players coming to the need of a wounded American lender.Led by $450 million from ex-Treasury…

Rad Power Bikes already ensures that all of its models meet UL safety standards, but has now gone further with the introduction of the Safe Shield Battery, which incorporates technology designed to protect against overheating.Tapping into motor power while biking to work or heading out for a leisurely spin is on the rise, but so are safety concerns surrounding the batteries that power them. You've likely seen an increasing number of worrying headlines reporting ebike battery fires causing injury and property damage,…

Rohit Chopra, director of the CFPB, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress," in the Dirksen Building on Nov. 30, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe Consumer Financial Protection Bureau unveiled a new rule on Tuesday that it said would cap the typical late fee that banks charge customers at $8 per incident.By cutting late fees to $8 from an average of around $32, more than 45…

A sign is pictured above a branch of New York Community Bank in Yonkers, New York, on Jan. 31, 2024.Mike Segar | ReutersRegional lender New York Community Bank may have to pay more to retain deposits after one of the company's key ratings was slashed for the second time in a month.Late Friday, Moody's Investors Service cut the deposit rating of NYCB's main banking subsidiary by four notches, to Ba3 from Baa2, putting it three levels below investment grade. That followed a two-notch cut from Moody's in early February.The…

Apple currently offers multiple different financial services and products in the United States including Apple Pay, Apple Card, and Apple Pay Later, but it's a different story in the United Kingdom. Right now, Apple Pay is all that the company offers and UK banks are worried that won't remain the case for too much longer. Amid recurring rumors that Apple intends to bring its credit card to the UK, some UK banks have called for an investigation into, and potential limitations on, the data that Apple collects about iPhone…

A sign is pictured above a branch of the New York Community Bank in Yonkers, New York, U.S., January 31, 2024.Mike Segar | ReutersRegional lender New York Community Bank finds itself in an apparently worsening predicament just as the anniversary of last year's banking turmoil nears.Shares of the troubled lender plunged 25% Friday to below $4 apiece after NYCB restated recent quarterly earnings lower by $2.4 billion, formally replaced its CEO and delayed the release of a key annual report.The most worrying development,…

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Google Wallet is one of the most popular services by the tech firm that makes mobile payments hassle-free for users. It gathers all of your bank accounts in a single Android smartphone or wearable, eliminating using physical cards. The good news is that the service is now expanding support for 42 new US banks. The new banks that have been added to Google Wallet’s list of supported institutions include a mix of large national banks, regional banks, and credit unions. Back in December, Google also added support for 44…