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Lloyd's Owes $3M in Prejudgment Interest for Delayed Payment of D&O Claim

Lloyd's of London underwriters must pay more than $3 million in pre-judgment interest in addition to the $10 million the syndicate has already paid in ....

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Bank of America fined $225 mn for 'botched' handling of jobless benefits during COVID-19

The Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) said the bank had a faulty fraud detection program that improperly froze the prepaid card accounts of thousands of people seeking jobless benefits in 2020 and 2021. ....

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Crypto investment: Big superannuation companies look to Wall Street for advice

State Street signed a deal with London-based crypto custodian Copper.co in March and will eventually roll out digital asset custody for Australian super funds. ....

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Adyen granted US branch license

The US Office of the Comptroller of the Currency (OCC) has approved Adyen's application to establish a Federal Foreign Branch in San Francisco, California. The OCC's approval and its granting of the branch charter in combination with the Federal Reserve's approval of the application on May 24, 2021 permits Adyen to commence operations as a Federal Foreign Branch. ....

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Paxos Receives Preliminary US Federal Banking Charter Approval from OCC

Paxos Receives Preliminary US Federal Banking Charter Approval from OCC
3 hours ago by Oluwapelumi Adejumo · 3 min read
Photo: Shutterstock
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Paxos hopes to be at the forefront of that wave of regulation and the recently gained approval is one more step along that road.
The crypto giant Paxos received preliminary conditional approval from the US Office of the Comptroller of Currency (OCC) on Friday. Paxos joins Anchorage and Protego in holding a federal banking charter, which allows them to carry out custodial and management services for digital assets, stablecoin reserves, and crypto-based services like payments, trade, KYC, and exchange. ....

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