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New York Venture Bank Seeks National Bank Charter

PYMNTS

New York Venture Bank, a new financial institution (FI) created by big names in the financial services industry, has applied for a national bank charter. FDIC), the news report noted the new bank will begin with $100 million in capital. According to a Wednesday (Nov. According to a Wednesday (Nov.

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Bump On The Road To National FinTech Charters?

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The news came Thursday (May 2) that, per a ruling in federal court in New York, the State Department of Financial Services can move forward with a suit that looks to derail national bank charters for FinTech companies. The national licenses would let FinTechs lend money and paychecks to consumers. lakh (roughly $1.6

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New York Regulator Fines Pakistani Bank $630M

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The New York State Department of Financial Services (DFS) is looking to fine Habib Bank Ltd (HBL) nearly $630 million for failing to comply with state and federal laws at its only U.S. Reuters reported news that if the fine is imposed, it would be the largest ever faced by a Pakistani bank.

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New York Wants To Be The Model For Cybersecurity Regulation

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New York’s financial regulator had a bold claim to offer over the weekend — she claimed that other states should use New York’s sweeping cybersecurity rules as a model for how insurers must protect their networks from hackers. New York also has clear guidelines for when and how firms have to report when there are hacks.

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Russian Hack Used Servers Inside US, Cybersecurity Company Says

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The recently discovered cyber attack on federal government agencies and companies handling data as sensitive as information regarding new nuclear weapons was run from servers within the United States, The New York Times reports. Sources told the Times the matter may have been exacerbated by the focus U.S.

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Economists Warn Of Slowing Recovery For Europe

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Europe is falling back into COVID-19's grip as the virus delivers a harsh rebuke in country after country whose residents thought they'd beaten it, The New York Times reported. National Association for Business Economics. "We T]he euro area economy is still operating far below its pre-pandemic level," he added.

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U.S. Regulations to Consider When Managing a Cryptocurrency Fund

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As the center of the American financial landscape, it is probably not surprising that New York was the first state to implement regulations specifically designed to cover cryptocurrency activity. For instance, Coinbase can only offer about half the coins available on its platform to New York customers. State Regulations.