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OpenAI reportedly said in a Thursday (Aug. 21) court filing that Tesla, SpaceX and X CEO Elon Musk sought financing arrangements or investments from Meta founder, Chairman and CEO Mark Zuckerberg for his $97.4 billion bid for OpenAI.
Zuckerberg did not join the bid, the filing said, Reuters reported Friday (Aug. 22).
Musk was a co-founder and initial board member of OpenAI, but he left...
With the Consumer Financial Protection Bureau reopening its open banking rule under Section 1033, the central questions over who pays for what data and how much it will cost banks and FinTechs will spark ferocious debate.
The CFPB issued an advance notice of proposed rulemaking (ANPR) to reconsider its 2024 open banking rule. This action launched a 60-day public comment period,...
German carriers Deutsche Post and DHL Parcel Germany will stop some shipments to the United States after Friday (Aug. 22) due to new U.S. customs regulations implemented in response to an executive order suspending the de minimis exemption.
They join other European carriers that have announced limits on their postal shipping to the U.S.
The two DHL Group divisions will no longer accept...
The European Union is reportedly speeding up its efforts to launch a digital euro, in part by considering the use of a public blockchain rather than a private one.
The shift was prompted by the passage of a stablecoin law in the United States, which has left EU officials concerned that dollar-backed stablecoins could become even more dominant than they already are in cross-border...
It seems like a massive disconnect. But for the payments industry, it’s an opportunity.
One the one hand, the current administration’s shifting tariffs on imported goods and commodities ranging from Swiss watches and Brazilian coffee to Canadian aluminum and steel are a blow to companies reliant on those items. Unless they pivot on sourcing or cut expenses elsewhere, somebody has to...
Real-time payments are moving beyond speed. With networks raising transaction ceilings, companies are beginning to treat instant transfers as a tool for high-value use cases once reserved for slower rails. The speed that has transformed consumer-facing transactions, such as disbursements, now is a valuable hallmark in commercial settings as well.
That’s a central theme of the PYMNTS...
Enterprise chief financial officials (CFOs) may be celebrating the transformative potential of generative artificial intelligence (gen AI), but beneath the optimism lies a quieter story: trust.
While most finance chiefs now report the technology is delivering measurable value, what enables them to put gen AI into sensitive roles is their conviction that its output is reliable and...
Watch more: Building the Culture Behind the Data Strategy
When it comes to data usage and actions, most institutions can point to dashboards and reports. Far fewer can prove that insight actually shapes decisions.
The difference is culture. A strong data culture shows up when leaders discuss outcomes in data terms, when frontline teams feel responsible for data quality, and when...
The FinTech IPO Index gained a relatively tame 0.6% through the past five sessions, as management changes at firms and earnings reports made the headlines.
Opendoor CEO Steps Down
Opendoor shares jumped more than 18%. As announced at the end of last week, CEO Carrie Wheeler stepped down, to be replaced by chief technology and product officer Shrisha Radhakrishna in the interim as the...
The Consumer Financial Protection Bureau (CFPB) aims to provide compensation from its Civil Penalty Fund to consumers harmed by the actions of the now-bankrupt banking-as-a-service (BaaS) provider Synapse Financial Technologies.
The CFPB sued Synapse on Thursday (Aug. 21) and submitted a proposed stipulated final judgment and order that asks the court to provide a $1 civil money...