Wirecard insolvency, Brussels to probe German regulator, Federal Reserve bans buybacks
FT News Briefing26 Juni 2020

Wirecard insolvency, Brussels to probe German regulator, Federal Reserve bans buybacks

Wirecard filed for insolvency on Thursday, days after the German payments group revealed a multiyear fraud that led to the arrest of its former chief executive. The FT’s Dan McCrum has been following Wirecard for the past five years and will upack the company’s current position. Plus, the Federal Reserve has capped dividends and banned share buybacks by big US banks in an attempt to strengthen the financial system in the pandemic.

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