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
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