Tag: U.S. Bank
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U.S. Bank fined $36M over freezes of COVID-era unemployment benefits
A recent incident involving U.S. Bank has resulted in a hefty fine of $36 million. The bank was penalized due to its repeated disruptions in distributing COVID-era unemployment benefits. The COVID-19 pandemic brought about an unprecedented surge in unemployment across the United States. To help mitigate the financial hardships faced by the unemployed, various government…
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U.S. Bank jumps into BNPL
U.S. Bank—one of the largest banks in the United States—has announced its entry into the booming Buy Now, Pay Later (BNPL) space. This move comes in response to the increased adoption and popularity of “BNPL” payment options that have gained immense traction in recent times. The BNPL model allows consumers to make purchases upfront and…