article thumbnail

Rocket Trims IPO By 39 Pct From $3.3B To $2B After Investors Reject Valuation

PYMNTS

billion and offered 150 million shares for $20 to $22 each, according to a filing with the Securities and Exchange Commission (SEC). Gilbert, owner of the Cleveland Cavaliers and founder of Quicken Loans will retain 79 percent of the voting power of the company’s common stock through controlling entities, the SEC filing shows.

Cleveland 233
article thumbnail

Fed Sees Possible Path To ‘Direct Issuance’ Of Digital Dollars

PYMNTS

Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. Digital dollars could make the leap from concept to reality, but there might be a few ways to get there.

Cleveland 330
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Cognitive Technology: A shelter in the storm of regulatory change

Insights on Business

It is also an opportunity to implement technology that can facilitate change. However, traditional technology is not the answer. More effective use of technology is key to better adapt to regulatory changes, cut costs and free up much of that locked-up capital. Companies require cognitive systems that can learn and adapt.

article thumbnail

Upscale restaurant chain hit by POS breach: Krebs

Payments Source

Cleveland-based Select Restaurants Inc., a national chain of upscale restaurants and bars, has experienced a breach exposing customers’ payment card data through point of sale technology, according to data security expert Brian Krebs.

article thumbnail

Overstock CEO: Why Immunity Passports Could Move Blockchain Tech Mainstream

PYMNTS

These startups are leveraging blockchain technology to create app-based solutions that will let individuals download and control their health records and selectively share them with businesses, industries and health organizations. That’s why Overstock ’s investment arm Medici Ventures has turned toward firms like Evernym and Vital Chain.

article thumbnail

Google Pay Adds 29 US Banks To Mobile Payment Service

PYMNTS

Greater Cleveland Community Credit Union. Security Bank (NE). Community Bank of the Bay. Community First Credit Union (OH). Evans Bank. Federated Bank. First Bank of Boaz. First Central Credit Union. First National Bank of Milaca. Grand Savings Bank. Greenleaf Wayside Bank. Hatboro Federal Savings, FA. Hometown Community Banks.

Google 130
article thumbnail

Why Tech Fails Can (Sometimes) Be Inconveniently Fun

PYMNTS

Some failures of technology are very serious. In a world where we are increasingly reliant on technology and automation for a host of day-to-day activities (shopping, paying bills, running errands, working out, managing our accounts), a big tech fail can often be a serious matter. Often, but not always.

System 149