The McLean, Va.-based company admitted that it failed to file suspicious activity reports even in cases when it knew about criminal charges against specific customers. The misconduct took place in a unit that served check-cashing businesses and was later shut down.
CNBC personal finance writer Darla Mercado is becoming a markets editor for the business news website. She starts her new position next week. As a personal finance writer, she has been writing about taxes, retirement planning,...
Grab, the Singapore-based ride sharing turned “super app”, has landed a $300 million Series A funding round for its fintech arm.
Led by Hanwha Asset Management – one of South Korea’s Big Three – the round also saw participation from early Grab backers K3 Ventures and GGV Capital. Flourish Ventures, the venture capital firm funded by eBay’s founder Pierre Omidyar, and Arbor Ventures, also participated in the round.
It says it will use the funding to keep serving Singapore’s unbanked population. Southeast Asia as a whole houses an unbanked population of around 290 million, according to US credit agency Fitch Ratings.
Grab launched its first micro-investment service last August
The fintech arm, called Grab Financial Group, saw its total revenues jump up by more than 40% in 2020, compared to 2019.
Just last month, Grab and its partner – major Asian telco Singtel – became just one set of two … Read the rest
Wells Fargo shares are lower on a revenue miss. New Wells Fargo CFO Michael Santomassimo joins 'Closing Bell' to discuss the company's recovery plans, thoughts on the Covid-19 economic comeback and Q4 earnings results.
South African bank’s approach to chatbots offers lessons for U.S. players; small lenders embrace automation for latest PPP round; flush with capital, Canadian banks eye U.S. acquisitions; and more from this week’s most-read stories.