What the U.S. ratings downgrade means for banks; Zelle down again

Will new U.S. debt downgrade reverberate more than the one 12 years ago While financial markets wobbled after Fitch Ratings reduced the U.S. government's credit rating, analysts said the action should have little long-term impact, similar to a downgrade by Standard & Poors Ratings Services in 2011. 摩根大通 CEO Jamie Dimon argued that Fitch's action "doesn't really matter that much."

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CD competition back to pre-2008 as banks fight for funding: Banks locked in funding by offering more enticing rates on certificates of deposit last quarter, but rebuilding liquidity came at a cost. Competition isn't dying down either, with a couple of credit unions floating 6% CD rates.

Read more on deposits: Apple Card's Goldman Sachs savings account tops $10 billion in deposits in 15 weeks.

Zelle users report second outage in a week: More than 1,000 users reported problems making payments on Tuesday before complaint volumes tapered around midday, according to Downdetector , a site that collects user outage reports. The internal network disruption comes on the heels of another Zelle outage JPMorgan Chase took responsibility for seven days ago.

Read more on payments: How earned wage access apps are rapidly evolving.

SoLo Funds breaks million-customer mark, challenges the status quo: Fintech lender SoLo Funds says its loans are meeting a need for people living paycheck to paycheck that the mainstream financial community is not, and that its loans cost far less than subprime credit cards or payday loans.

Regulatory deterrence, policy debate and litigation: crypto's future. Regulators remain skeptical toward digital assets in the wake of major crypto-industry partner-bank failures, but in the absence of legislative direction, oversight of crypto is largely left to the U.S. Securities and Exchange Commission . The SEC's approach has been aggressive, but its authority has been muddied by recent court decisions.