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Robert DeYoung is Capitol Federal Distinguished Professor of Finance at the University of Kansas.
by Robert DeYoung
There is no shortage of opinions about payday loans. But the same cannot be said for hard research, which is needed before regulators write new rules for the industry.

Top Stories

Auto-loan, commercial-mortgage-backed and other securitizations use what is known as the swaps curve to price floating-rate deals. But pricing volatility is causing some to ask whether the market should go back to Treasuries after a 15-year hiatus.  more »
Mark Simmons, a seasoned commercial lender, is planning to open a bank in California's Orange County that is dedicated to making loans to businesses. Core Commercial Bank, expected to be the state's first de novo since 2008, would jump into a market where commercial lenders are plentiful — and aggressive.  more »
FinTech Forward
Legacy Systems Threaten Banks More than Startups: RBC Head McKay
Royal Bank of Canada's chief executive, Dave McKay, says the company could roll out a loyalty system kept on a blockchain next year as it experiments with distributed ledgers and looks to enhance its mobile wallet.  read more »
The Federal Housing Administration's annual financial report demonstrates the outsize influence of reverse mortgages on the performance of its insurance fund, fueling a debate about whether those loans belong there.  read more »
The goal of adopting chip cards — to provide tighter security — is a noble one. But by going partway, authorizing transactions with signatures rather than four-digit codes, banks are watering down that security, at least for lost and stolen cards.  read more »
American Chartered was also the top M&A priority for MB Financial, which was willing to pay a healthy premium to get a deal done. MB Financial, which prefers big acquisitions, will be challenged to find other opportunities in the Windy City.  read more »
Virun Rampersad, the guy in charge of global innovation for the 230-year-old BNY Mellon, is more banker than technologist, and it shows in his strategy. His job is to create a culture that'll keep this banking behemoth relevant for centuries to come.  read more »