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Capital One Adding Innovation Staff in New York

Bank Innovation

Capital One Financial Corp. but it’s adding significant innovation staff to its New York office. may be based in McLean, Va., Job ads for more than a dozen positions in the Big Apple were recently posted, and quite a few of them directly relate to the bank’s innovation effort. Here are just a Read More.

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Retailer New York & Co. Will Likely File For Bankruptcy

PYMNTS

The parent company of New York & Co. , said in its filing with the Securities and Exchange Commission (SEC) that there’s “substantial doubt” about its ability to do business, bankruptcy is “probable” without seeking bankruptcy protection, and “it does not have ability to raise additional capital at this time.”

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Fintech’s Power Grab — in The New York Times

Bank Innovation

The New York Times covered the subject — and the word — in depth yesterday, in a special section called “Fintech’s Power Grab.” Ok, it’s safe to say fintech has hit the big time. ” The lead item, by Andrew Ross Sorkin of CNBC fame, focuses on the fintech challenge to Read More.

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Citigroup Back To NY Federal Court Over $900M Error

PYMNTS

Reuters reported the New York-based multinational investment bank and financial services corporation filed its third suit in the U.S Southern District of New York Court to recoup $900 million it mistakenly sent to lenders of Revlon Inc. Citigroup Inc. returned to court Friday (Aug. On Tuesday (Aug. On Monday (Aug.

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PayPal CEO Shulman: Consumers Moving To Digital Currency In Droves

PYMNTS

PayPal also said at the time that it had received a “first-of-its-kind conditional Bitlicense” from the New York State Department of Financial Services (NYDFS). Paxos, PayPal’s partner, operates itBit. Pantera Capital said in the report, as noted by Benzinga, “When PayPal went live, volume started exploding.

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Luxury Brand Barneys New York Seeks Bankruptcy Protection

PYMNTS

Struggling to compete with online brands, famed Big Apple luxury retailer Barneys New York has put itself up for sale and filed for bankruptcy protection, according to a report by Reuters. . However, the company hasn’t been immune from the same market conditions that sent Sears and Kmart into bankruptcy.

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Social Capital Hedosophia Launches New SPAC, Seeks $500M

PYMNTS

Social Capital Hedosophia is looking to raise $500 million for a new blank check company, Bloomberg writes. While these types of companies don't have operations of their own, the aim is to allow investors to throw money in to boost mergers and acquisitions in the long run.

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