By Manya Saini and Saeed Azhar (Reuters) -Customers Bancorp said on Friday it acquired a $631 million venture banking loan portfolio from U.S. regulator Federal Deposit Insurance Corporation (FDIC) at about 85% of the book value. The portfolio belonged to failed lender Signature Bank, which was put under FDIC receivership in March, a source familiar…
By David Shepardson (Reuters) -Two U.S. senators on Thursday urged the National Highway Traffic Safety Administration (NHTSA) to reconsider its decision to tell automakers not to comply with a recently effective Massachusetts state “right to repair” law designed to allow customers access to vehicle data. Massachusetts voters approved a 2020 ballot initiative to allow independent…
By Pete Schroeder WASHINGTON (Reuters) – The U.S. Senate Banking Committee will consider a bill Wednesday that would allow regulators to claw back compensation for executives at failed banks. The measure, backed by committee Chairman Sherrod Brown and Senator Tim Scott, the panel’s top Republican, would give regulators the ability to reclaim two years’ worth…
WASHINGTON (Reuters) – The national security advisers of the United States, Japan and the Philippines on Friday discussed regional security issues and ways to strengthen the trilateral alliance, they said in a joint statement. It was the first meeting between White House national security adviser Jake Sullivan and his counterparts, Akiba Takeo of Japan and…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumers’ near-term inflation expectations dropped to more than a two-year low in June and the outlook over the next five years improved slightly, according to a survey on Friday that also showed sentiment perking up. The University of Michigan’s survey followed data this week showing annual consumer and producer…
By Angus Berwick and Tom Wilson LONDON (Reuters) – The U.S. affiliate of crypto giant Binance has carried out a round of layoffs since regulators last week charged it with violating securities laws and sought to freeze its assets, said two people with knowledge of the dismissals and employees’ social media posts. One of the…
By Elizabeth Howcroft LONDON (Reuters) -Cryptocurrency investors have grown more cautious about who they do business with, after being burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and others, and fearing a regulatory crackdown will put more pressure on remaining firms. The recent crypto platform bankruptcies trapped customer assets now worth…
By Humeyra Pamuk WASHINGTON (Reuters) – U.S. Secretary of State Antony Blinken goes to Beijing this weekend with expectations low that he will make headway on the long list of disputes between the United States and China. But he and his Chinese counterparts can achieve at least one thing, say analysts – show that the…
BRUSSELS (Reuters) – U.S. Defense Secretary Lloyd Austin expressed optimism on Friday that he would eventually hold talks with his Chinese counterpart after being snubbed by Beijing during an event in Singapore earlier this month. “I’m confident that, over time, that’s going to happen. We’re going to meet at some point in time. But we’re…
BRUSSELS (Reuters) -U.S. Defense Secretary Lloyd Austin said he urged Turkey to allow Sweden’s entry into NATO during an introductory meeting on Friday with his new Turkish counterpart Yasar Guler during a gathering of NATO defense ministers in Brussels. “My purpose in meeting him today was an introductory meeting, just to congratulate him on being…
