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The Consumer Financial Protection Bureau (CFPB) said Friday (April 11) that it will not prioritize enforcement of a regulation requiring a registry of nonbank financial companies that have broken consumer laws and are subject to federal, state or local government or court orders.
“The Bureau will instead continue to focus its enforcement and supervision activities on pressing threats to...
A glitch has reportedly delayed the collection of tariffs by U.S. Customs.
An entry code used to exempt freight from tariffs is not working, the issue is being reviewed, and shippers are being told to delay filing their financial papers until the issue is resolved, CNBC reported Friday (April 11), citing an alert from U.S. Customs and Border Protection.
Normally, all the papers are filed at once...
Discount retail chain Five Below reportedly suspended cargo shipments from China due to the trade war between the country and the U.S.
A shipping company used by the retailer told suppliers that Five Below suspended its cargo shipments, that no containers should be delivered to the yard starting Thursday (April 10) and that containers already loaded should be unpacked and returned to the carrier...
You’d have to go back to the last few seismic shocks to the U.S. economy — the pandemic and the Great Recession — to find this level of economic gloom among consumers.
As measured by the preliminary April reading of consumer sentiment released Friday (April 11) by the University of Michigan, worries over household finances, inflation and the impact of tariffs all weighed on our collective minds...
Revolut reportedly plans to add U.K. stocks to its trading platform within days.
The company gained its U.K. trading license in November, has over 800,000 U.K. trading customers, and already offers U.S. and European equities, Bloomberg reported Friday (April 11).
“We are including U.K. stocks in our offering as we’ve seen interest from our U.K. customers to get exposure to the local economy and...
Economic uncertainty is casting a long shadow over the year ahead. Bank leaders are framing 2025 as a year of “wait and see” marked by resilience, optionality and gradual acceleration.
That was the story for Wells Fargo’s Q1 earnings call Friday (April 11), where CEO Charlie Scharf and CFO Mike Santomassimo struck a cautiously optimistic tone, outlining progress on fee diversification, credit...
MoneyLion said Thursday (April 10) that its shareholders voted to approve the company’s previously announced proposed acquisition by Gen Digital.
The provider of financial wellness tools also said in a Thursday press release that all regulatory approvals have been obtained and that the two companies expect to complete the acquisition April 17, subject to customary closing conditions.
“Upon...
HSBC is reportedly considering getting into the private credit market.
The global bank has discussed potential partnerships with private credit firms, although the talks are at various stages and may not result in formal collaborations, Reuters reported Friday (April 11), citing unnamed sources.
HSBC did not immediately reply to PYMNTS’ request for comment.
The bank is looking to the private...
The use of artificial intelligence in algorithmic trading could exacerbate market volatility and amplify financial instability, according to a policy paper by the Bank of England released this week.
As global markets reel from President Donald Trump’s tariff policy changes, the United Kingdom’s central bank warned that the widespread use of AI for trading and investing could lead to a “herding”...
Small businesses are reportedly likely to suffer the biggest impact from new U.S. tariffs.
Small and medium-sized businesses (SMBs), which account for one-third of imports to the U.S., don’t have the resources of larger companies to deal with higher prices and other disruptions, The Wall Street Journal (WSJ) reported Friday (April 11).
Nearly two-thirds of small businesses surveyed in March said...