Goldman reportedly limits fintech clients after Fed warning - Breaking The News

Goldman reportedly limits fintech clients after Fed warning

31 August

1 min read

EPA-EFE/FAZRY ISMAIL

The United States Federal Reserve cautioned Goldman Sachs about taking on fintech companies as clients, the Financial Times reported on Thursday. Following the warning, the bank "stopped signing on riskier fintech clients," according to people familiar with the matter.

The report alleged the Fed criticized Goldman's transaction banking business, pointing out issues such as "insufficient due diligence and monitoring processes when accepting high-risk non-bank clients."

fintech fed goldman sachs

Related Stocks

Goldman Sachs

Fed's Williams: Still a lot of uncertainty around tariffs

9 hours ago

Federal Reserve Bank of New York President John Williams told Yahoo on Monday that these are the "early days" of figuring out the impact of tariffs."There is still a lot of uncertainty around tariffs. The details matter," Williams insisted, adding that he wants to keep an eye on data to see how the tariffs impact the prices.Talking specifically about inflation, Williams mentioned that the risk of it being higher than the Fed predicted does exist. "My forecast is that inflation...

Barkin: Current monetary policy is 'good place to be'

27 March

Federal Reserve Bank of Richmond President Tom Barkin said on Thursday that the bank's current moderately restrictive policy is a "good place to be" considering the uncertainty caused by the federal government policies, including United States President Donald Trump's tariffs."At our last meeting, the [Federal Open Market Committee] FOMC held the federal funds rate steady. With the labor market still solid and inflation still above target, our moderately...

Fed's Musalem: Labor market at or close to full employment

26 March

Federal Reserve Bank of St. Louis President Alberto Musalem revealed on Wednesday that the labor market is currently "at or close to full employment."Musalem noted the heightened risk of inflation remaining above the Fed’s 2% goal due to tariff changes and other factors, stressing the need for inflation expectations to stay stable. He reassured the public that he does not see recession on the horizon but continued to warn that secondary effects...

Fed's Kashkari: No use case for cryptocurrency

26 March

Federal Reserve Bank of Minneapolis President Neel Kashkari said on Wednesday that he is a "pretty big skeptic" on cryptocurrency, arguing that "nobody has found a legitimate use case" for it, apart from as an instrument of speculation and to circumvent bank regulations. Kashkari repeated that the Fed has made good progress on inflation but that there is "more work to do" to bring it down to the 2% target. He praised the resilience of the labor market in light...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.