OCC seeks equal access to banking services
In today’s top digital banking news, the Office of the Comptroller of the Currency (OCC) proposed a personal banking rule meant to level the playing field, while U.S. taxpayers are expected to take a hit. approximately $ 435 billion from borrowers. non-repayment of student loans. In addition, Deutsche Bank is looking to buy companies or create joint ventures to become a significant player in the digital payments industry in Europe.
OCC calls for equal access to banking services
The Office of the Comptroller of the Currency (OCC) proposed a personal banking rule intended to level the playing field. The regulation would ensure everyone has equal access to banking services provided by federal savings associations, national banks and branches. and federal agencies of foreign banking organizations.
Report: Taxpayers Face $ 400 Billion Blow on Bad Student Loans
U.S. taxpayers are expected to take a hit of about $ 435 billion as borrowers fail to repay student loans on the federal government’s book to date. The news is based on analysis by the US Department of Education and two private consultants who helped the agency examine the situation, according to a released report.
Deutsche Bank envisions growing payments unit with buyouts and joint ventures
Deutsche Bank reportedly intends to buy companies or enter into joint ventures with other companies with the aim of becoming a significant player in the digital payments space in Europe. The financial institution has also hired top talent from the industry and sought deals to grow the digital payments market share, according to a published report.
JPMorgan: COVID-19 spike signals likely first quarter GDP collapse
A growing tide of COVID-19 cases and related limitations could lead to a decline in gross domestic product (GDP) in the first quarter, economists at JP Morgan noted from a new perspective. “This winter will be dark and we believe the economy will contract again in the first quarter,” said economists. Economists at JP Morgan said they look to the second and third quarters for an economic rebound, assuming the coronavirus vaccine is successful.