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IMF: Banks Could Encounter Market, Credit Losses As COVID-19 Surfaces ‘Cracks’ In The Financial System

PYMNTS

The International Monetary Fund (IMF) cautioned that COVID-19 has made “cracks” in the worldwide financial system known and “will likely” have financial institutions encounter market and credit losses that will put their reserves to the test. out of work and may bring about the most severe economic downturn as of the Great Depression.

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Should Congress Increase FDIC Insurance Limits?

South State Correspondent

private and public lending markets are the world’s envy, with a wide availability of financing options for many capital seekers across the entire capital stack. We believe any change to the FDIC insurance coverage should aim to maintain and advance our credit markets.

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Digital disruption in capital markets and investment banking

Bobsguide

Regulatory compliance dominated IT spending between 2009 and 2015 upon a backdrop of financial crisis, as well as the number of regulations passed during that time. However, firms have now realised that it is also crucial to spend effectively in areas that are critical to business and customer.

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JPMorgan Takes On Square And PayPal At The Point Of Sale

PYMNTS

Before Square, launched by Twitter co-founder Jack Dorsey in 2009, SMBs had a hard time maneuvering point-of-sale (POS) card transactions. Square now manages $100 billion in annual payments and has an $83 billion market capitalization, the article said. He added that instant funds can help SMBs better manage cash flow .

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NerdWallet Acquires SMB Finance Platform Fundera

PYMNTS

The acquisition will help NerdWallet expand its options for financial guidance and financing options for SMB owners, giving it a bigger piece of the SMB market and "advancing its mission of providing clarity for all of life's financial decisions," according to the release. According to a recent survey, around 70 percent of U.S.

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Manufacturers Loosen Budgets To Make Tech Upgrades

PYMNTS

Morgan Stanley reported a three-month average index of planned capital spending among U.S. manufacturers dropped in May to its lowest level since May 2009. David Berge , a senior vice president at Moody’s, said large manufacturers typically spend 3 percent to 5 percent of annual revenue on capital expenditures.

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MoneyGram Teams With LuLu Money To Power Asia-Pacific Transactions

PYMNTS

MoneyGram looks forward to working with them to create new, innovative products and services that extend our digital reach and bring financial inclusion to customers throughout the Asia-Pacific market.” ” Launched in 2009, Lulu Money has five million users processing 1.1 million transactions annually.

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