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ST. PETERSBURG, Fla.—Credit unions have long been concerned about fintechs encroaching on their business, and buy now pay later (BNPL) is likely opening the door wider for the upstarts, says one analyst.

WASHINGTON—An Austrian man has been arrested in the United Kingdom on criminal charges related to his alleged participation in a conspiracy to launder hundreds of millions of dollars through the U.S. financial system as part of a scheme to pay bribes around the world and defraud the Brazilian government, the U.S. Department of Justice announced.