financial stability

LendingClub Financial Health Officer Anuk Nayar Reports that No US Region Is Immune to Falling into Paycheck-to-Paycheck Cycle

August 3, 2021 @ 5:57 pm By Omar Faridi |

LendingClub Corporation (NYSE: LC), the parent firm of LendingClub Bank, the leading digital marketplace bank in the US, has shared key findings from its second Reality Check: Paycheck-To-Paycheck research series. The first report revealed that most US residents (54%) are living paycheck-to-paycheck; this second August… Read More

Read more in: Fintech, General News | Tagged anuk nayar, financial hardship, financial health, financial literacy, financial management, financial stability, financial wellbeing, lendingclub, money management, paycheck to paycheck, research, Research Report, united states, us

Stablecoin Report: Greater Risks Posed by Stablecoins Using Only Fractional Reserves or Higher-Risk Asset Allocations

July 4, 2021 @ 6:49 pm By Omar Faridi |

The dramatic growth of stablecoin issuance may eventually have implications for the overall functioning of short-term credit markets, according to Fitch Ratings. The statement by Fitch follows comments late last month by Boston Federal Reserve President Eric Rosengren stating that Tether is a looming risk for… Read More

Read more in: Blockchain & Digital Assets, Global | Tagged diem, dollar pegged stablecoins, financial stability, fitch, fitch ratings, libra, stablecoin, stablecoins, systemic risk, tether, us dollar, usd, usdc, usdt

US Regulators Warn that Bitcoin, Other Cryptocurrencies Pose Significant Financial Stability Risk

May 23, 2021 @ 11:33 am By Omar Faridi |

US Federal Reserve Chief Jerome Powell recently noted that cryptocurrencies pose significant risks to financial stability. Powell stated on Thursday (May 20, 2021) that greater regulation of crypto assets may be necessary. As reported by Reuters, the US Treasury Department cited concerns about wealthy people… Read More

Read more in: Blockchain & Digital Assets, Politics, Legal & Regulation | Tagged bitcoin, btc, Crypto Regulations, crypto trading, crypto-assets, federal reserve, financial stability, gary gensler, jerome powell, sec, securities and exchange commission, treasury department, united states, us

Open Banking can Give Lenders an “Extremely Accurate” and Detailed View of a Consumer’s Finances, Equifax UK Professional Explains

July 28, 2020 @ 10:45 pm By Omar Faridi |

Robert McKechnie, head of product at Equifax UK, a data analytics and technology company, has argued that Open Banking can help with lending during the COVID-19 crisis. McKechnie believes that data-sharing via Open Banking (after obtaining customers’ consent) will help with giving potential lenders the… Read More

Read more in: Fintech, Global | Tagged coronavirus, covid-19, europe, financial stability, open banking, robert mcKechnie, uk, united kingdom

Banking Challenger Branch’s Survey Reveals that 80% of Hourly Employees had Less than $500 in Savings for Emergencies like COVID-19

July 18, 2020 @ 9:55 am By Omar Faridi |

Banking challenger Branch, a service provider that teams up with employers to assist workers with growing financially, recently revealed key findings from its second annual Branch Report. The digital challenger’s report looks at the financial, work, and lifestyle interests of hourly workers. As noted in… Read More

Read more in: Fintech, General News | Tagged Atif Siddiqi, banking challenger, Branch, challenger bank, financial management, financial stability, financial wellbeing, hourly employees, hourly workers, money managemnet, survey, united states, us

Israeli Securities Authority Issues a Request for Information to Identify Regulations that May Hinder Ongoing Blockchain Industry Development

January 29, 2020 @ 8:07 am By Omar Faridi |

The Israeli Securities Authority (ISA) has reportedly issued a Request For Information in order to identify regulatory policies that could hinder the ongoing development of distributed ledger technology (DLT)-focused projects in Israel. The country’s regulator is also planning to look closely into the potential use… Read More

Read more in: Blockchain & Digital Assets, Politics, Legal & Regulation | Tagged aml, anti money laundering, crypto-assets, cryto regulations, digital assets, distributed ledger technology, dlt, financial stability, isa, israel, israel securities authority, request for information