The number of banks experimenting with blockchain projects — or joining blockchain conglomerate initiatives — is growing by the day. In this report, we analyze the nascent use cases of financial institutions experimenting with distributed database technology, one of the most talked-about innovations in financial services. The initiatives of JPMorgan, IBM, UBS, Goldman Sachs, Bank of America, the DTCC, Nasdaq, Royal Bank of Canada and Deutsche Bank are among those discussed in detail.
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The OCC's approval of SmartBiz buying a bank opens the door to other fintech M&A deals for accessing bank charters, which can help a fintech stay in business.
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Provident Bank's Tara Brady was promoted to chief experience officer; the Federal Reserve ended its enforcement action against Nano Banc; Jim Nussle announced plans to retire as CEO of America's Credit Unions; and more in this week's. banking news roundup.
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The Fitzgerald-based Colony Bankcorp agreed to pay $3.5 million to purchase an agency in Monroe, Georgia. The deal signals the potential return of more banks buying insurers than selling them.
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The Department of Justice said in a court filing Friday that a February stop-work order from acting Consumer Financial Protection Bureau Director Russell Vought did not entail stopping statutorily mandated work by the bureau, defying earlier testimony.
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Wall Street continued its sell-off of financial institutions as the increasing likelihood of a U.S. recession fuels fears of revenue pressures.
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The Swedish institution's New York listing, which was viewed as a sign of fintech's recovery, has been delayed due to market volatility.
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