Federal Reserve's Rate Cut Forecasts Spark Stock Rally While Posing Challenges for Savers
The Federal Reserve's announcement of a pause in benchmark interest rates and a forecast of rate cuts next year led to a surge in stock indexes to one-year highs.
Ransomware Attack on ICBC Disrupts US Treasury Market, Raising Concerns
A ransomware attack on China's Industrial and Commercial Bank (ICBC) disrupted trading in the $25 trillion US Treasury market, forcing ICBC to send trading data on a USB stick to BNY Mellon for settlement.
Major U.S. Banks, Including Bank of America and Chase, Face Delays in Processing Direct Deposits Due to ACH Issue
Bank of America and several other major U.S. banks, including Chase, U.S. Bank, Truist, and Wells Fargo, have experienced issues with processing direct deposits, causing delays for customers.
Moody's Issues Warning of Potential Credit Rating Downgrade for 6 Major US Banks
Credit ratings agency Moody's has placed the credit ratings of six major US banks, including Bank of New York Mellon, State Street, and Northern Trust, under review for a possible downgrade.
Failure of First Republic Bank can indicate a banking crisis on the horizon
JPMorgan Chase has acquired the majority of the assets of First Republic Bank following the federal government's seizure of the regional bank.
Congress remains divided over bank failure solutions
The collapse of the Silicon Valley Bank and First Republic Bank has caused an uproar among the American public.
FDIC announces how they protect your money after a bank run
The FDIC insures deposits in participating banks and savings associations up to a certain amount per depositor, per account type, and bank.
Trucking looking at crypto and decentralized finance models to streamline industry payments
According to Allied Market Research, the 2021 global freight trucking market was worth over $2.7 trillion.