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/regulation

Regulator tells Wells Fargo to fix AML deficiencies

Shares in Wells Fargo fell on Thursday after the bank inked a formal agreement with the Office of the Comptroller pledging to fix deficiencies in its financial crimes risk management practices and anti-money laundering internal controls.

/startups

Revolut’s Storonsky sells $300 million in company stock

Founder and chief exec at fintech giant Revolut, Nik Storonsky, has reportedly sold shares worth up to $300 million (£230 million) in the company.

/retail

Lloyds Banking Group plans 292 branch closures in 2025

Lloyds Banking Group has confirmed that it will be closing 292 bank branches across the UK in 2025.

/sustainable

Sustainable Finance Live 2024: West Yorkshire Pension Fund invests in Rebalance Earth

The West Yorkshire Pension Fund (WYPF) has bought a 25% stake in Rebalance Earth, a water-related nature restoration organisation.

/crypto

EToro USA to stop offering trading in most crypto following SEC settlement

Social investing platform eToro's US business has agreed to pay $1.5 million and stop trading activity in nearly all crypto assets to settle Securities and Exchange Commission charges.

/sustainable

Northern Trust launches blockchain-based carbon credit ecosystem

Asset servicer Northern Trust has launched a blockchain-based platform which enables institutional buyers to digitally access carbon credits.

/ai

Mastercard agrees $2.65bn deal to buy threat intelligence giant Recorded Future

Mastercard has struck a deal to buy threat intelligence specialist Recorded Future from private equity form Insight Partners for $2.65 billion

/ai

Google PaLM 2 AI model under scrutiny by Irish watchdog Data Protection Commission

As the national independent authority in Ireland, the Data Protection Commission (DPC) is responsible for protecting the personal data of individuals in the EU in accordance with GDPR, the EU's Law Enforcement Directive (LED) and Irish ePrivacy Regulations.

/payments

Kuady launches virtual prepaid Mastercard in Peru

Kuady Card has launched in Peru, a virtual prepaid Mastercard which aims to provide a secure, flexible, and convenient way for people in the region to make payments.

/people

Bunq to nearly double workforce in 2024

Global neobank bunq has announced its intention to hire over 730 new employees before the end of 2024, growing their global headcount by 70%.

/startups

Fero launches embedded personalisation e-commerce tool in UK

Dutch fintech Fero has launched their personalisation e-commerce tool, Checkout Companion, for Shopify-based businesses in the UK.

/ai

Datricks raises $15m for AI-powered risk management platform

Datricks, an AI-powered "financial integrity" platform, has raised $15 million in a Series A funding round led by Team8's VC arm.