This week in global news, Afterpay makes way for Block's Cash App, Singapore plots a crypto crackdown, U.K. calls for fintech deregulation, and more.
Here's what's happening around the world.
The Honolulu bank is raising $165 million through depositary shares, a move that two observers said would help boost its below-average leverage ratio.
A federal judge granted a preliminary injunction sought by industry groups that sued to block a Colorado law. The law, which would cap interest rates on consumer loans, targets partnerships between fintechs and out-of-state banks.
PeoplesBank and Cornerstone Bank entered into an agreement to combine their holding companies in a deal slated to close early in 2025. The banks would continue to operate separately.
The Federal Housing Finance Agency wants feedback on how the Federal Home Loan banks can improve their affordable housing programs, including efficiencies in the application process.
"We're in an era of instant gratification, where we're not compared to other financial institutions, but rather to companies like Amazon, Apple, Google and Facebook," says Chief Technology Officer Sandeep Uthra.
The regulator's education arm compared consumers' reactions to financial information after being told it was generated by AI versus a human.