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Germany’s Deutsche Bank Offers A Lifeline To Wirecard Bank

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Deutsche Bank, the Frankfurt-based multinational financial services company, is in talks with regulators to rescue Wirecard Bank, the deposit-taking division of the German payment company that is facing one of the country’s biggest accounting frauds, the Financial Times reported. The action was triggered when accountants reported $2.1

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Why Regulation Won’t Fix Credit Reporting Agencies

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Thirty years later, I find their tagline a rather fitting metaphor for the Equifax data breach and the flurry of headlines made by everyone who now wants to take them — and their two credit reporting agency compadres, Experian and TransUnion — out to the regulatory woodshed. Senator Elizabeth Warren (D – Mass.) Here’s a theory.

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Senate Overhauls AML Laws, Strengthens Beneficial Ownership Disclosure

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As reported by Reuters , the bill would mandate that companies have to report their beneficial owners to government authorities. As reported in this space earlier in the month, the legislation would require U.S. corporations to register the identity of their beneficial owners in a database operated by FinCEN.

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PingPong To Enter Europe Via $113M Investment

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According to a report , the Chinese startup PingPong, a FinTech company, will invest €100 million ($113 million) in Luxembourg. PingPong and Luxembourg’s relationship goes back to 2017, when the FinTech startup got a payments license in the region, which allowed it to operate between Chinese outfits and customers in Europe.

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Banco BASE Taps Volante For Payments; Azimo Receives Dutch Central Bank License

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Coverage includes Mexico ‘s Banco BASE selecting Volante Technologies Inc. Azimo says it has received a license from the Dutch Central Bank to operate in the Netherlands, Cubic Transportation Systems has notched a contract for a mobile ticketing system in Ireland , and Bear Market Coffee in Ireland has gone cashless.

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Barclays Corporate Banking Chief Resigns

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Reports on Thursday (May 19) said John Winter announced his retirement and plans to exit his post at the end of the month. Barclays’ chairman of its corporate banking operations, Kevin Wall, will reportedly take Winter’s place as interim head of the unit. and Germany-based credit card operations.

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Shake Shack On Tapping AI And Other Tools To Optimize The Customer Experience

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The health crisis has forced the sector to hasten its use of technology to improve customers’ experiences at the drive-thru, to streamline curbside pickup orders and to cater to a limited number of dine-in patrons. . Shake Shack reported that its Q3 sales were down 18 percent compared to the same period last year. Post-Pandemic Moves.