#depositors-reimbursement

#depositors-reimbursement

Leading US banks are not just going digital; they are realizing that digital savings and loans alone do not ensure sustained engagement or profitability. These services must connect to the banks' core strengths: trust, scale, and long-term financial relationships.

There was a time when banks and fintechs competed mostly on bells and whistles: smoother apps, faster checkout, appealing rewards. But in the world of public markets and quarterly earnings, functionality gives way to fundamentals.

The Treasury-backed savings bank National Savings and Investments (NS&I) has been criticised over failing to control costs and have a viable plan in place to complete a business transformation project which is already two years late and has spent over 3bn in taxpayer money. NS&I has around 25 million customers which it serves through the Premium Bonds prize draw and fixed term savings bonds, representing more than an estimated 240bn. However, the transformation project has been condemned by a Public Accounts Committee (PAC) which says it has not yet managed to deliver any meaningful benefits for taxpayers.

Workers in industries labelled as reputationally risky, as well as a broad range of religious and ethnic groups, have been denied access to financial services. United States President Donald Trump's $5bn lawsuit against JPMorgan Chase resurfaces his accusations of debanking the act of removing a person or organisation's access to financial services. The complaint, filed in a Florida court on Thursday, alleges that the bank singled him out for political reasons and closed several of his accounts.

Please be informed that we will no longer let the American Public be ripped off' by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more, which festered unimpeded during the Sleepy Joe Biden Administration, Trump wrote on Truth Social, adding AFFORDABILITY! At the World Economic Forum in Davos, Switzerland, Trump confirmed that he planned to ask Congress to pass the cap on credit card interest rates.

"Today, an increasing number of consumers include crypto in their investment portfolios, while major financial institutions are deepening their involvement in crypto assets, supported by key regulatory developments," Newrez President Baron Silverstein said in the announcement, adding that now is the "right time" to weave crypto into the mortgage lending business.