TD Bank has pledged $3 million to provide credit counseling to small-business owners. The hope is that those owners will use commercial loans to replace personal credit cards and home equity as their primary forms of business funding.
As many as a dozen financial institutions are deploying IBM’s Watson to search for signs of employee misconduct so they can avoid a Wells Fargo-size scandal. But the legal and technical limits of its use are major issues.
While bank executives are divided on what they view as an optimal outcome for Fannie Mae and Freddie Mac, there is broad agreement that a future without them (or some government-supported equivalent) would mean tighter credit, higher rates and lower volume.