The law has effectively created a new marketplace that helps smaller companies gain access to funding, with banks taking a cut.
Category: Banking and Financial Institutions
Binance Founder Changpeng Zhao Pleads Guilty to Money Laundering Violations
Changpeng Zhao will pay a $50 million fine and step down as chief executive of the company he created, the latest blow to the crypto world since the implosion of FTX last year.
Fed Chair Recalls Inflation ‘Head Fakes’ and Pledges to Do More if Needed
Jerome H. Powell, the Federal Reserve chair, said officials would proceed carefully. But if more policy action is needed, he pledged to take it.
Why Banks Are Suddenly Closing Down Customer Accounts
Surprised individuals and small-business owners can’t pay rent or make payroll, and no one ever explains what they did wrong.
Sam Bankman-Fried Is Found Guilty of 7 Counts of Fraud and Conspiracy
The case against the founder of the failed FTX exchange had come to symbolize the excesses of the volatile cryptocurrency industry.
Sam Bankman-Fried Denies Knowing FTX Money Was Missing, as He Concludes Testimony
The founder of the FTX crypto exchange was grilled by a federal prosecutor for a second day, just before both sides rested their case in the criminal fraud trial.
China Bet It All on Real Estate. Now Its Economy Is Paying the Price.
After relying on a borrow-to-build model for decades, Beijing must make difficult choices about the country’s housing market and economic future.
A ‘Shadow’ Lending Market in the U.S., Funded by Insurance Premiums
Apollo was the first to use annuities to build a major financing business. Others followed, driving the growth of the private lending market and worrying regulators.
Can Ghana’s Debt Trap of Crisis and Bailouts Be Stopped?
The government of Ghana is essentially bankrupt, and has turned to the International Monetary Fund for its 17th financial rescue since 1957.
China’s Property Crisis: Why It’s So Hard for Beijing to Fix
Beijing has often addressed economic troubles by boosting spending on infrastructure and real estate, but now heavy debt loads make that a hard playbook to follow.