Columbus, OH

A total of 94 US banks are at significant risk of experiencing bank runs by uninsured depositors if they show financial weakness, according to a new report. An analysis from Florida Atlantic University finds the billion-dollar banks in question – which include seven US financial giants – have all reported a 50% or higher ratio of uninsured deposits to total deposits.

94 US Banks at ‘Serious Risk’ of Bank Runs, Including BNY, State Street, JPMorgan Chase and Citi: Report

Starling Bank chief executive Ann Boden has expressed her opinion on the future of bank branches. She said: “Over time, I think that’s probably going to become the post office or a shared branch network. “I think in future it’s very, very unlikely that each of the big...

Starling Bank CEO Ann Boden:“very, very unlikely” big banks will all have branches on the high street in the future

Getting your Trinity Audio player ready... Deposit insurers or lenders that provide insurance to depositor funds against bank failures should take an interest in the degree of replacement of bank deposits by central bank digital currencies (CBDCs), according to the Reserve Bank of India (RBI). “For deposit insurers, factors of...

Replacement of bank deposits by CBDC an area of key interest for deposit insurers: RBI

Reuters

(Reuters) - Regional lenders at the heart of last year's banking crisis are cutting more deals to shore up their balance sheets and compete with rivals, extending a wave of consolidation in the sector that may attract anti-trust scrutiny.

Analysis-US regional bank deals rise as lenders aim to bolster balance sheets

Wells Fargo, Morgan Stanley and Bank of America are among a group of Wall Street banks accused of bilking customers out of billions of dollars in interest payments, according to a new report. The U.S. Securities and Exchange Commission is probing the banks to determine whether they purposefully directed clients...

Wells Fargo, Morgan Stanley and Bank of America Accused of Cheating Customers Out of Billions of Dollars in Interest Payments: Report

The Guardian

Lenders may look to attract more deposits from savers to raise funds to repay Bank of England pandemic-era loans

Race for UK banks to repay £100bn in Covid loans could help savers 

Fox Business

Melinda French Gates recently said Berkshire Hathaway CEO Warren Buffett’s latest plan for what will happen to his massive fortune after his death did not come as a shock to her.

Melinda French Gates says Warren Buffett's latest will 'did not surprise me'

The Motley Fool

The Oracle of Omaha's short-term actions and long-term ethos don't always mesh.

Warren Buffett Has Sold Almost $2.3 Billion of Bank of America Stock -- and It's a Direct Reminder of His $56 Billion Warning to Wall Street

24/7 Wall St.

: Warren Buffett sold half of his Apple stake and now holds $277 billion in T-bills, earning $12-13 billion annually in interest. His move suggests he sees limited value in the current market, with stocks potentially overvalued. Buffett’s recent actions imply he might be anticipating a serious market correction. As good as Treasury bills […]
The post The US Government Is Paying Buffett $13B a Year Right Now appeared first on 24/7 Wall St..

The US Government Is Paying Buffett $13B a Year Right Now

Colorado State

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David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

When Jay Chaudhry sold his first company for $70 million, he focused less on his own riches, he says — and more on how the deal could turn dozens of his employees into millionaires. Chaudhry, 65, is known today as the billionaire founder and CEO of Zscaler, a cloud...

65-year-old CEO turned at least 88% of his employees into millionaires after selling his company for $70 million

The Bank of England recently made headlines by rejecting the banking licence application of popular financial technology company Revolut. This decision has significant implications for both Revolut and the broader fintech industry. Revolut’s Ambitious Bid for a Banking Licence. Revolut, a UK-based fintech unicorn, has been disrupting the traditional...

Bank of England Rejects Revolut’s Bid for Banking Licence

Centime, a Boston-based fintech that offers comprehensive cash management and banking solutions to small to midsize businesses (SMBs), has announced an innovative approach to Accounts Payable (AP) automation that goes beyond the basic promise of ROI. Centime’s new offering not only streamlines the AP process but also provides businesses with an opportunity to earn cash-back interest, transforming AP functions into profit centers.

Centime Introduces New AP Solution that Pays Businesses to Automate Accounts Payable

Denver, CO

The Denver City Council accepted Monday two grants totaling $24.5 million from the state of Colorado to pay for the homeless navigation campus it opened last year. One council member wants answers as to why wraparound services at the campus aren't up and running.

Denver homeless hotel wins $24.5 million grant, experiences wraparound services delay

Standing as the number one business priority for Nu in 2024, Mexico has proven to be a savvy choice in the company’s international expansion strategy: one year after the launch of Cuenta, the company has already surpassed 8 million customers in the country and $3.3 billion in deposits. As...

Digital Banking: With $3.3B in Deposits, 8 Million Customers, Mexico Stands Out Among Nubank’s High Growth Markets

In the fast-paced world of finance and technology, partnerships and collaborations are commonplace. But when things take an unexpected turn, even the most celebrated alliances can face scrutiny. A recent report in the Wall Street Journal has stirred the pot, suggesting that Goldman Sachs might be reevaluating its relationship with...

Goldman Sachs Contemplates Seperating with Apple Card: A Shift in Strategy

All of the investments made this year by Bezos' family office — called Bezos Expeditions — have been in artificial intelligence, according to data provided to CNBC by FINTRX, a private wealth intelligence platform. Bezos Expeditions has always tilted heavily toward tech. Fully 70% of the family office's...

Jeff Bezos' family office is making big investments in AI

More dangerous substances are entering the Denver drug supply, Harm Reduction Action Center warned in a newsletter this week. “The Iron Law of Prohibition posits that as law enforcement becomes more intense, the potency of prohibited substances increases,” HRAC Executive Director Lisa Raville wrote in the newsletter. That is exactly what is happening, she said.

Dangerous substances entering Denver drug supply

Apache Junction, AZ

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

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Suzy Jacobson Cherry

When I studied Anthropology in college, I learned that teeth have been indicators of economic status just about forever. Archaeologists look at the teeth in ancient skeletons and know who the rich were based on their tooth decay. During the Renaissance period, it became fashionable for women to blacken their teeth to look like they were better off than they were, because the royals and aristocrats, who could afford sugar and sweets, had more rotten and missing teeth than the poor.

Opinion: Stop Stereotyping Bad Teeth as a Sign of Drug Addiction

Flagstone, the UK’s leading cash deposit platform*, has more than doubled the size of its Assets under Administration (AUA) since January 2023. The fintech business’s AUA now stands at £13.5 billion having consistently increased by more than £1 billion per quarter in the last 18 months.

Fintech Savings Platform Flagstone Doubles Customer Assets in 18 Months

NewsBreak

Silicon Valley Bank Depositors to Have Access to “All of Their Money” Following Government Intervention

The recent failure of one of the top banks in the tech industry, Silicon Valley Bank, has led to concerns about a broader financial crisis that...

Silicon Valley Bank Depositors to Have Access to “All of Their Money” Following Government Intervention

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