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Banks and Credit Unions Move to Help Federal Workers Hit by Shutdown

(CNN)Banks and credit unions that cater to federal workers are readying financial help for their customers as the government shutdown drags on. The assistance includes low- or no-interest payroll advances and loans for workers facing dwindling cash reserves.

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Beyond Bitcoin: The Other Cryptos You Should Know Too

Bitcoin may be the most popular form of digital currency but it’s far from the only one. In fact, about 1,500 other cryptocurrencies have emerged since the creation of bitcoin in 2009. And they fall into buckets like stable coins and tokens.

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China Gives American Express First Shot at Its Huge Payments Market

American Express just became the first US credit card company to get the green light to start building its own payments network in China.The company said Friday that the Chinese central bank has given it preliminary approval to handle payments in yuan.

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Fed Revisits ‘Too Big to Fail’ Bank Rules

Which banks are “too big to fail?” That just got a bit more complicated.The Federal Reserve unveiled a fresh proposal Wednesday for regulating more than a dozen US banks that takes advantage of greater oversight authority recently granted by Congress — and marks a step back from the tight controls imposed after the 2008 financial […]

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The World Is Embracing Digital Currency, and the US Is Falling Behind

For many people all over the world, paper cash and metal coins are already items of memory. Mobile payment providers,like Apply Pay and Samsung Pay, are being used at cash registers in countries like the United Kingdom and Japan, and people have responded well to the ease of this system and some of the benefits […]

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Warren Buffett Is Investing in India’s Paytm

The two companies have been discussing for several months an investment of about 25 billion rupees (360 million) that would value Paytm at around 10 billion, the source said, adding that the deal could be announced as soon as this week.

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FBI Warns Banks on Potential ATM Hacking Scheme

The FBI is warning financial institutions that their ATMs could be targeted in a hacking attempt. The threat was reported Sunday by Krebs On Security, a popular cybersecurity blog run by the journalist Brian Krebs.

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Why American Credit Card Companies Can’t Break Into China

Visa, Mastercard and American Express have been campaigning to enter China for years. After more than a decade of trying, they may have missed their chance. Beijing has repeatedly signaled it will open up foreign access to its credit card market, and in 2017 it opened the door for American card companies to apply for […]

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Bitcoin Could ‘Bring the Internet to a Halt,’ Banking Group Warns

Don’t bet on bitcoin ever replacing the dollar or other traditional currencies as everyday money. That’s one of the messages from a new report by an organization that represents dozens of the world’s central banks.

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Billions in Cryptocurrency Wealth Wiped Out After Hack

A cyberheist at a little-known virtual currency exchange helped wipe billions of dollars off the value of bitcoin and other digital currencies. The price of bitcoin slumped more than 7 after South Korea’s Coinrail announced that it had been targeted by cyberthieves.

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American Banks Had Their Most Profitable Quarter Ever

American banks are hauling in record-setting profits just as Congress prepares to cut regulations. Bank profits soared by 28 during the first three months of 2018 to 56 billion, according to statistics published by the FDIC on Tuesday.

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Are Apple, Amazon and Facebook the Future of Banking?

Watch out, big banks. Silicon Valley is targeting finance as the next industry ripe for disruption. In the not-too-distant-future, Amazon (AMZN) could let customers zap each other cash with Alexa, and then deposit the money in an Amazon-branded checking account.

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