Friday June 1, 2018 –
Here are the new and noteworthy stories we have been following this week.
Europe’s bank bosses stress need for consolidation
Scale and competitive pressures are driving discussions around bank consolidation in Europe.
https://www.ft.com/content/a4ca22b8-6188-11e8-90c2-9563a0613e56
Investors Bet $4 Billion on a Cryptocurrency Startup
Block.one is on track to raise more than $4 billion through a yearlong sale of digital tokens.
https://www.wsj.com/articles/investors-bet-4-billion-on-a-cryptocurrency-startup-1527591600
Citigroup won’t use high deposit rates to win digital accounts: executive
Citi to market digital banks accounts to its credit card customers.
Big Banks to Get a Break From Limits on Risky Trading
Federal bank regulators have unveiled a sweeping proposal to soften the Volcker Rule.
https://www.nytimes.com/2018/05/30/business/volcker-rule-banks-federal-reserve.html
Santander Plunges After Report Fiat Chrysler Is Considering Its Own Lending Unit
Fiat Chrysler is considering its own captive auto finance unit.
PM Modi Launches BHIM, RuPay, and SBI Apps in Singapore
RuPay and NETS bilaterla deal finalized.
https://gadgets.ndtv.com/apps/news/pm-modi-launches-bhim-rupay-and-sbi-apps-in-singapore-1860584
The number of new banks in America has fallen off a cliff
Since 2012 more than 2,000 American banks have closed.
IMF Brings Key Stakeholders Together to Foster Collaboration on Fintech
The IMF is expanding its High Level Advisory Group on Finance and Technology, to strengthen the representation of national authorities and international organizations.
Visa outage: payment chaos after card network crashes – as it happened
Visa suffers outage in Europe.
