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U.S. Bank Profits Plummeted 36.5% in 2020 Due to Pandemic Concerns: FDIC
WASHINGTON (Reuters) - U.S. bank profits fell 36.5% in 2020 from a year earlier as banks set aside huge amounts to guard against potential losses, but the industry has showed signs of strengthening in the fourth quarter as the…
Oldest U.S. Bank BNY Mellon Sets Up Crypto Unit to Offer Bitcoin Services CryptoBlog
The Bank of New York Mellon, BNY Mellon, has set up a digital asset unit. The oldest bank in the United States plans to "hold, transfer, and issue" bitcoin and other cryptocurrencies on behalf of its customers. The bank ultimately…
Oldest US bank BNY Mellon to hold Bitcoin for its customers
America's oldest bank, Bank of New York Mellon (BNY Mellon), said Thursday that it will now accept, hold and issue bitcoin for its customers.The Wall Street Journal reports that BNY Mellon will eventually allow digital assets to be moved…
US banking regulator gives green light to use stablecoin for federally chartered banks
National banks and federal savings associations can use blockchains and public stablecoins for settlement, the Office of the Comptroller of the Currency (OCC) said in an interpretive letter released Monday evening.
The letter says banks and…
Goldman Sachs, Morgan Stanley lead US banking rally after stress test
(Reuters) - US bank stocks outperformed the broad market on Monday, led by Goldman Sachs and Morgan Stanley, after the Federal Reserve said stress test results meant the sector could resume share buybacks for the first time…
BitPay seeks US banking license
BitPay, a cryptocurrency payment company, has applied to become a national bank in the United States, CoinDesk reported, citing a legal notice released on Tuesday (December 8).
BitPay has filed an application with the Office of the…
No one is going to ban Bitcoin – US banking regulator – Nairametrics
One of the main financial regulators of the world's largest economy, the United States, recently revealed that the world's flagship crypto is here to stay, amid rumors from various quarters about the likely Bitcoin ban.
In a…
US Bank Altitude Go Card Review 2022
Main advantagesThe US Bank Altitude® Go Visa Signature® Card has a nice set of features, which include bonus opportunities and a 0% APR introductory offer.20,000 bonus pointsAs a new cardholder, you'll earn this 20,000 point sign-up…
American Bank Review | The rise of Motley Fool
US Bank currently offers the following five checking accounts.US Bank Easy Bank AccountThe Easy Checking Account is US Bank's most affordable option, with a low monthly fee that can be waived in a number of ways. It has online and mobile…
Bitcoin Meets the Bank as US Banking Regulator Allows Cryptocurrency Custody
The relationship between banks and cryptocurrency in the United States has been as complicated as the concept of “currency” itself. But today's interpretive letter from the Office of the Comptroller of the Currency (OCC) could change all…
Former US bank risk manager fined for AML compliance
The Financial Crimes Enforcement Network (FinCEN) fined Michael LaFontaine, former director of operational risk at American Bank, a subsidiary of US Bancorp, with $ 450,000 civil penalty for its negligence in failing to intercept…
FDIC data shows U.S. bank branches in decline – Quartz
The United States is rapidly losing bank branches. Between 2010 and 2019, the number of full-service bank branches rose from nearly 95,000 to just over 83,000, according to Quartz analysis of data from the Federal Deposit Insurance Corp.…
JPMorgan Unveils First U.S. Bank-Backed Digital Token, JPM Coin
This story was delivered to Business Insider Intelligence Fintech Briefing subscribers. To learn more and to subscribe, please click here.JPMorgan has revealed plans to launch its own cryptocurrency, dubbed…
JP Morgan Deploys First U.S. Bank-Backed Cryptocurrency
The first cryptocurrency created by a major US bank is here - and it's from JP Morgan Chase.The lender moves more than $ 6 trillion around the world for businesses every day as part of its huge wholesale payments business. In trials set to…
JPMorgan Launches Its Own Cryptocurrency; the first for a large American bank
The first cryptocurrency created by a major US bank is here - and it's from JP Morgan Chase.
The New York-based bank has made the much-anticipated decision to launch its own digital token, CNBC reported Thursday.
A "tiny fraction" of the…
JPMorgan Chase becomes the first major U.S. bank with its own cryptocurrency
In 2017, Jamie Dimon, managing director of JPMorgan Chase, declared Bitcoin to be a “fraud” and said any employee caught trading it would be fired for being “stupid”.On Thursday, JPMorgan became the first major bank in the United States to…
Introducing ‘JPM Coin’: JPMorgan will be the first major US bank to launch its own…
Kimberly White / Getty ImagesIn a first for a major U.S. bank, JPMorgan announced Thursday that it will launch a cryptocurrency linked to the U.S. dollar.
The bank said the coin, called "JPM Coin", is intended to "make instant!-->…
JP Morgan Chase’s JPM coin makes history as US bank backed cryptocurrency
JPMorgan Chase is launching a trial in the coming months of the first cryptocurrency backed by a major US bank. Dubbed "JPM Coin," the cryptocurrency will be used by large companies around the world to "instantly settle payments…
JP MORGAN DEPLOYS FIRST U.S. BANK-BACKED CRYPTOCURRENCY TO TRANSFORM PAYMENTS BUSINESS
JP Morgan Deploys America's First Bank-Backed Cryptocurrency to Transform the Payments IndustryThe lender's engineers have created "JPM Coin", a digital token that will be used to instantly settle transactions between customers of its…
Tell us why you bought Bitcoin or face account closure: US Bank to Customer
American bank ANC allegedly "wants nothing to do with bitcoin" but still threatens to terminate accounts if customers don't reveal why they bought it.
This is according to a story circulating on social media that is gaining more and more…