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Payroll Fraud Could Cost KeyCorp $90M

PYMNTS

Regional banking firm KeyCorp disclosed a massive instance of fraud on Tuesday (July 16) that could potentially cost $90 million, according to a report by CNBC. In a K-8 filing, KeyCorp, which is based in Cleveland, said the fraud involved a “business customer” and that it was discovered “on or about” July 9. Shares fell on the news.

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Facebook Faces Billions In Possible GDPR Fines

PYMNTS

Also in Europe, the European financial markets regulator has said that it wants to spend one million euros to promote market stability in the region as pertains to cryptocurrencies and FinTechs. That document focuses on budgets and regulatory efforts across the region. community banks and small business lending.

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Community banks most likely to approve small business loans

Abrigo

According to a recent survey from four Federal Reserve Banks, small regional and community banks have the highest approval rate for small business loans. The 2014 Small Business Credit Survey was a joint operation conducted by the Federal Reserve Banks of New York, Atlanta, Cleveland and Philadelphia.

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Pandemic: No Problem. And Messages From Our Financial Services Providers

Jeff For Banks

Highlight charities and wealthier individuals that are supporting the same, such as Kevin Love of the Cleveland Cavaliers donating $100,000 to support arena workers. life insurance division MassMutual Market Volatility and Your Workplace Retirement Savings Recent volatility within U.S. Not hoarding. Stay safe out there and don't panic!

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Fizzle Of The Week: Economic Cooperation (The Trade Kind, That Is)

PYMNTS

There was the fizzle of the stock market – measured by volatility and whipsaws, which nobody liked or likes. It’s a backdrop where economic growth slows, banks slow lending, everyone pulls in their plans to expand and no one really gets a jump start anywhere. There was the continued drain of the Trumpian brain trust.

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