JPMorgan Chase is reportedly facing a lawsuit that alleges that the bank paid “unreasonably” low interest rates on accounts used in its cash sweep program. Illinois resident Dan Bodea alleges in the suit that the bank used the program to shortchange customers while pretending to act as their fiduciary, Reuters reported Monday (Aug. 26). JPMorgan Chase
ContextLogic has announced an agreement to sell a significant portion of its operating assets and liabilities, including its eCommerce platform Wish, to Qoo10, an eCommerce platform operating in Asia. The transaction is valued at approximately $173 million in cash, ContextLogic said in a Monday (Feb. 12) press release. Following the completion of the transaction, ContextLogic
As the regulatory gaze sharpens on FinTechs, the companies themselves are mindful that they need new tools and a new approach to operations, in order to stay on the right side of the regulators. “The cost of fraud is high,” Ryan Dew, SVP, Product Solutions for Thredd, noted to PYMNTS in a recent interview, adding
The key to success for many businesses lies within their finance departments. And the key to success within many finance departments is the embrace of efficient cash application processes. Traditionally, cash application — the process of matching incoming payments to outstanding invoices — was relatively straightforward. “Fifteen years ago, most payments in the U.S. were
There’s a difference between managing your business’s cash flow, and having it manage you. That difference is something small to medium-sized businesses (SMBs) know well, particularly those that find themselves facing working capital issues that pose challenges to their operational stability and potential growth. Navigating the complexities of cash flow management and working capital can
In the expansive rental market, where more than 34% of Americans make monthly payments, traditional methods like paper checks and wire transfers are proving inefficient. Despite billions flowing from tenants to landlords, outdated payment systems cause delays and frustration. As economic pressures mount and tenant satisfaction wanes, property managers face increasing urgency to modernize payment
Salt Lake City, Utah-based WebBank is teaming up with BMG Money to expand access to lower-cost loans. The partnership aims to broaden financial inclusion for employees and retirees with limited access to socially responsible loan programs, the companies said in a Tuesday (Aug. 6) news release. WebBank and BMG Money are launching LoansAtWork, which is issued