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0 -0.000623287671232884 -0.000684931506849422 -0.00205479452054802 -0.00616438356164383 -0.00479452054794522 0.00787671232876701 0.00616438356164383
Stock impact report

Monzo pulls plug on US operations [Yahoo! Finance]

Nu Holdings Ltd. Class A Ordinary Shares (NU) 
Company Research Source: Yahoo! Finance
The UK-based digital bank will cease accepting new American customers and cut approximately 50 roles, reported Bloomberg Existing US account holders will retain access until June. In a statement to Retail Banker International , a spokesperson for Monzo said the firm is “making a deliberate, strategic decision to focus on scaling in our home market and Europe and to step away from the US.” “We're very grateful to our US colleagues and customers for their support and love for Monzo.” Monzo first expanded into the US in 2020, offering digital banking services including a debit card and app. The company also sought regulatory approval to operate as a full-service bank in the US but withdrew its charter application less than a year later. The withdrawal marks an early strategic shift under CEO Diana Layfield, who assumed leadership in February after former CEO TS Anil left following differences with the board overgrowth and public listing plans. Monzo now plans to strengthen Show less Read more
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