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Apple/Goldman credit card launches; Happy State Bank to buy in-state peer

Apple Inc. and Goldman Sachs Group Inc. launched their virtual credit card Aug. 6, Reuters reports. The collaboration is expected to benefit Goldman by boosting its Marcus consumer lending brand.

In Texas, Happy State Bank will buy and assume the operations of First State Bank of Mobeetie in a deal expected to close in the fourth quarter, Amarillo (Texas) Globe-News reports, citing a news release. Terms of the transaction were not disclosed in the report.

St. Louis Fed President James Bullard said more interest rate cuts from the central bank could be expected, but stressed that the Federal Reserve must assess the lagged effects of its "more accommodative" stance on monetary policy.

The U.S. Court of Appeals for the District of Columbia Circuit sided with the Department of Justice against three Chinese banks, which hold records that the U.S. government thinks may clarify how North Korea finances its nuclear weapons program. While the banks refused to show the records, citing lack of jurisdiction of the district court, the appeals court concluded that the government can access records of foreign banks that use U.S. correspondent accounts.

The U.S. Equal Employment Opportunity Commission filed a civil rights, employment discrimination lawsuit in Fresno federal court against Visalia, Calif.-based Tucoemas FCU, CUInsight reports. The federal agency acted on behalf of three former women officers of the credit union who claimed they were discriminated against for their gender and age when they applied for the CEO role in the organization.

LendingClub Corp.'s newest platform, the Select Plus Platform, is expected to broaden the company's customer base by allowing "sophisticated investors" to choose to buy and index certain loans that otherwise would be denied by LendingClub, CEO Scott Sanborn said in a call to discuss the company's second-quarter earnings.

U.S. District Judge Vince Chhabria in San Francisco allowed a negligence lawsuit against Coinbase Inc. to move forward, saying the company may have failed to fulfill its duty after it suspended the launch of its Bitcoin spinoff, bitcoin cash, Bloomberg News reports. The digital currency surged hours before Coinbase made the announcement informing clients would be able to order it, triggering a probe for what might have been insider trading.

Meanwhile, BlockFi Inc. has raised $18.3 million in a series A funding led by venture capital firm Valar Ventures LP. The company said the money will be used to add new products, including interest-earning accounts for Bitcoin and crypto-backed U.S. dollar loans. Other fund sources were Winklevoss Capital, Galaxy Digital, ConsenSys Ventures, Akuna Capital, Avon Ventures, Susquehanna, CMT Digital, Morgan Creek and PJC.

In other parts of the world

Asia-Pacific: CBA FY profit down 4.7% YOY; AMP mulls bank sale; China eases bank trading rules

Europe: Nets in €2.85B deal; UniCredit, ABN Amro profits rise; Commerzbank result dips

Middle East & Africa: Provisions dent SABB's H1 result; Nedbank cuts FY outlook; Moody's rates Niger

Now featured on S&P Global Market Intelligence

1 year after IPO, GreenSky could seek sale at stock's all-time low: After just over a year on the public markets, one of the country's biggest digital lenders is looking to sell.

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, Hang Seng rose 0.08% to 25,997.03, while the Nikkei 225 fell 0.33% to 20,516.56.
In Europe, around midday, the FTSE 100 rose 0.91% to 7,236.71, and the Euronext 100 gained 1.40% to 1,037.19.

On the macro front

The EIA petroleum status report and the consumer credit consensus are due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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