Finance

Daol Savings Bank launches cost-of-living stabilisation loan for mid-to-low credit borrowers

Daol Savings Bank has launched a new loan product aimed at mid-to-low credit borrowers to help them secure funds for living expenses. The Daol mid-interest-rate cost-of-living stabilisation loan targets customers in the bottom 50 percent by credit score and offers up to 10 million won. Interest rates range from 5.9 to 15.27 percent a year, with terms of up to 120 months. Borrowers must use funds for living stabilisation purposes and sign an agreement including restrictions such as limits on home purchases.

Crypto

Seven days until U.S. Senate recess; Coinbase CEO says time to pass Clarity Act

With the U.S. crypto regulation bill known as the Clarity Act facing a final hurdle ahead of the Senate summer recess, Coinbase CEO Brian Armstrong said the bill is effectively in its final stage and urged the Senate to act quickly. Supporters have seven days to reach agreement before the recess, but the 60 votes needed to ensure passage have not been secured. Senators are also making last-minute adjustments.