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1 Article
Source: Common Domain

Wealthfront tempts traditional bank customers with 2.24% interest on cash accounts

Friday 03:20 GMT

Wealthfront, the robo adviser investment firm, is rolling out cash accounts that will garner interest at more than 20 times the national average rate.

The company said the accounts will carry no management or advisory fees, and consumers can make unlimited, free transfers between the cash accounts and their Wealthfront investment accounts.

1 Article
Source: Common Domain

JPMorgan just launched its own cryptocurrency: What you need to know

Friday 03:20 GMT

U.S. banking giant JPMorgan Chase & Co. on Thursday announced the launch its own digital currency, dubbed the JPM Coin, to service institutional clients in the settlement of funds.

As we move towards production we will actively engage our regulators to explain its design and solicit their feedback and any necessary approvals,” the bank said.

1 Article
Source: Reuters

Johnson & Johnson supplier seeks bankruptcy over talc lawsuits

Thursday 15:26 GMT

(Reuters) - A key supplier of talc used in Johnson & Johnson’s baby powder filed for Chapter 11 bankruptcy on Wednesday in the wake of multibillion-dollar lawsuits alleging its products caused ovarian cancer and asbestos-related mesothelioma.

Imerys Talc America, the U.S. unit of French group Imerys SA, said it filed for bankruptcy because it lacks the financial clout to defend against nearly 15,000 lawsuits over its talc mineral product.

1 Article
Source: Common Domain

Mistrust of banks kept millions from refis and nearly $9,000 in savings

Thursday 10:50 GMT

A new study shows that mistrust of banks kept millions of Americans from taking advantage of those options, denying them thousands of dollars in savings and perpetuating the housing distress that erupted from the crisis.

The broader ripple effects into the economy from millions of Americans unable to spend or move for better job opportunities have been substantial and lingering.

1 Article
Source: Common Domain

Banks offered homeowners refinances after the crisis, but Americans stopped trusting banks

Friday 12:41 GMT

A new study shows that mistrust of banks kept millions of Americans from taking advantage of those options, denying them thousands of dollars in savings and perpetuating the housing distress that erupted from the crisis.

In the wake of the 2008 financial crisis, policymakers and financial institutions devised some strategies for helping troubled homeowners – even if many advocates argue those steps were not enough.

1 Article
Source: BBC

Trump ex-aide lied to prosecutors

Thursday 22:45 GMT

Donald Trump's former election campaign chief Paul Manafort breached his plea deal with special counsel Robert Mueller by lying to prosecutors, a US judge says.

Prosecutors presented evidence of Manafort's luxurious lifestyle, saying it was only possible because of his bank and tax fraud.

1 Article
Source: Common Domain

Washington moves closer to delivering protections for banks that work with the pot industry

Thursday 16:20 GMT

Now Washington finally could be getting closer to delivering protections for the banks and credit unions that work with the booming marijuana industry.

A bipartisan group of House members is aiming to introduce a bill in the new session that would — as a draft version of the measure puts its — “create protections for depository institutions that provide financial services to cannabis-related legitimate businesses.”

1 Article
Source: BBC

Name checks on payments face delay

Friday 02:24 GMT

A system making a recipient's name as important as the bank account number and sort code when payments are made could be delayed by up to 18 months.

When setting up a new payment, or amending an existing one, banks will be able to check the name on the account of the person or organisation you are paying. The aim of Confirmation of Payee is to cut down on so-called authorised push payment (APP) scams, in which people are conned into sending money to another account.


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