Cross River Bank – DIGIT INFO

FDIC alleges Cross River engaged in ‘unsafe’ lending practices

DIGIT — Sun, 30 Apr 2023 02:19:59 +0000

Cross River is yet to admit nor deny the allegations that it “engaged in the unsafe or unsound banking practices” related to its lending activity in 2021.

Go to Source

Report: Binance US Struggles to Secure Banking Partner Amid Regulatory Crackdown on Crypto Industry

DIGIT — Sat, 08 Apr 2023 21:30:03 +0000

Following the collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank, cryptocurrency companies have been seeking new banking partners in the United States. According to a recent report citing “sources familiar with the matter,” Binance US, the American subsidiary of the cryptocurrency exchange, is having difficulty finding a U.S. banking partner. Unnamed Sources Say […]

Go to Source

Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits

DIGIT — Mon, 13 Mar 2023 21:00:31 +0000

Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount importance to Circle,” Allaire emphasized. Crypto Firms Scramble for […]

Go to Source

Covid-19 Stimulus: Banks Will Gain $18 Billion in Fees for Processing PPP Relief Loans

DIGIT — Wed, 15 Jul 2020 00:30:59 +0000

The world’s banking cartel will gather $18 billion in fees for facilitating the settlement of small business Paycheck Protection Program (PPP) relief loans leveraged during the Covid-19 pandemic. The $640 billion in PPP relief loans stem from the CARES Act and allegedly there’s only $130 billion left for Americans looking for funds. The Banks Will […]

The post Covid-19 Stimulus: Banks Will Gain $18 Billion in Fees for Processing PPP Relief Loans appeared first on Bitcoin News.

Go to Source