Washington Mutual Inc. is on the verge of sharply scaling back its brokerage unit that handles mortgage-backed securities, according to reports.
Citing sevral Wall Street sources, the New York Post said Thursday that Wamu Capital Corp. will announce Dec. 10 that it will reduce its 125-person work force to 10 to 20.
The announcement had been scheduled for Tuesday but was delayed week because of Hanukkah, the paper said.
A budget bill passed by the House Financial Services Committee would eliminate the Public Company Accounting Oversight Board and cap the Consumer Financial Protection Bureau's budget at roughly $249 million.
PayPal and Circle are among the companies pushing the rapidly growing payment-friendly cryptocurrency as a catalyst to use other services.
As the banking-as-a-service model has evolved over the last decade amid widespread consent orders and BaaS partnership failures, the number of sponsor banks has dwindled, leaving fintechs to compete for the business of those that remain.
First Savings Financial Group could have bailed out of SBA lending after the departures of key executives and loan officers. Instead it retooled the unit, and it's now reaping the benefits.
Safely disposing of cocaine, sending dogs chasing laser pointers and other unorthodox lessons in maintaining levity in a high-stress job.
Citizens Financial Group's promotion of Brendan Coughlin to company president comes at the same time as CFO John Woods prepares to leave for State Street. Both executives have been viewed as potential successors to CEO Bruce Van Saun.
