Business

COVID-19 hastens fintech adoption while industry seeks guidance

Unique circumstances created by the COVID-19 pandemic forced more Americans to get comfortable with financial technology, while leaving the industry wondering whether regulators will devise a reliable legal framework to support ...

Business

Google plans to offer checking accounts

Google plans to add checking accounts from Citigroup and a credit union to its Google Pay digital wallet in 2020, the tech company said Wednesday.

US puts sanctions on N.Korea hacking groups behind major thefts

The US Treasury on Friday placed sanctions on three North Korea government-sponsored hacking operations which it said were behind the theft of possibly hundreds of millions of dollars and destructive cyber-attacks on infrastructure.

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Financial institution

In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries. Most financial institutions are highly regulated by government bodies. Broadly speaking, there are three major types of financial institution:

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