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Fintech company Chime has agreed to acquire Stride Bank in a deal valued at $590 million, a move expected to grant it a national bank charter. Shares in Chime rose significantly following the announcement of the strategic acquisition.
Digital banking platform Chime has agreed to purchase nationally chartered Stride Bank in a $590 million cash deal. The acquisition aims to provide Chime with full banking charter status, leading to a jump in its stock price.
US consumer credit data has smashed estimates, with credit card debt reaching a new all-time high, signaling continued leveraging of American consumers despite economic uncertainties.