Americas
Banking and finance news from North America, Latin America, and the Caribbean
US states reach Credit Acceptance settlement worth about $700 million over subprime auto loans
A coalition of US states and Washington, DC secured a $700 million settlement requiring Credit Acceptance to provide debt relief, restitution and penalties over alleged abusive subprime auto-lending practices.
US SEC grants five-year exemption for tokenised stock trading venues
The US SEC granted temporary conditional relief for tokenised stock venues for five years, allowing permissioned liquidity pools under investor-protection, issuer-notice, trading-limit and transparency conditions.
Gateway First Bank agrees to acquire Colonial Savings in Texas
Gateway First Bank agreed to buy Colonial Savings, adding six Fort Worth-area locations in a transaction expected to close during the first quarter of 2027.
Brazil central bank cuts Selic 25 basis points to 13.75%
Brazil’s central bank unanimously reduced the Selic rate by 25 basis points to 13.75%, extending its easing cycle to five consecutive cuts and 125 basis points since March.
Federal Reserve raises rates 25 basis points to 3.75%–4.00% range
The Federal Reserve unanimously raised its target range by 25 basis points to 3.75%–4.00%, its first increase in more than three years, as policymakers prioritised returning inflation to 2%.
Huntington cuts income growth forecast as funding costs squeeze lending margins
Huntington lowered its 2026 net interest income growth forecast to approximately 35% as higher funding costs and pressure on loan yields weakened its outlook for lending profitability.
Circle launches public mainnet of Arc blockchain with BlackRock, Visa and Mastercard as validators
Circle Internet Group launched the public mainnet of its USDC-native Arc blockchain, with BlackRock, DTCC, Visa and Mastercard among founding validators.
Enova withdraws US bank applications for proposed $369 million Grasshopper acquisition
Enova withdrew US regulatory applications for its proposed $369 million Grasshopper acquisition, reaffirmed its 2026 guidance and said it intended to accelerate share repurchases during the remainder of the year.
Revolut secures Colombian banking licence ahead of planned launch in 2027
Revolut said it received its Colombian operating licence, with around 200,000 people on its waiting list, while country head Diego Caicedo told Reuters that banking services would launch in 2027.
Truist agrees $5.5 billion auto-loan sale to exit near-prime lending business
Truist agreed to sell $5.5 billion of auto loans representing substantially all Regional Acceptance assets, expecting $5.2 billion in net proceeds as it moved to exit near-prime lending.
Raymond James names Scott Curtis to lead bank segment as Steve Raney steps back
Raymond James said COO Scott Curtis will lead the Bank Segment when Steve Raney moves to an executive consulting role on 1 January 2027, after 21 years leading the bank business.
Creative Planning agrees to acquire institutional consultant RVK, advisor to $4.3 trillion in assets
Creative Planning agreed to acquire institutional investment consultant RVK, which advises on approximately $4.3 trillion in assets.