The Consumer Financial Protection Bureau has backed off enforcement and supervision of consumer protection laws, leaving states to fill the void — and potentially creating a "patchwork" of state laws that banks will have to comply with.
It also plans to deploy the startup’s technology that analyzes data and offers predictive advice.
-
Central bank digital currencies have the potential to improve financial inclusion for women, but only if they are combined with a system that lowers multiple other barriers to their financial empowerment.
-
The proposed $35 billion merger between Capital One and Discover cleared a major regulatory hurdle as the Justice Department told financial regulators in a confidential memo that it didn't have sufficient evidence to block the transaction.
-
The bank technology is launching its signature payment platform in a country where rivals like Square and PayPal are also actively chasing business payments.
The high-profile Michelle Moore will step down at year-end, to be replaced by David Tyrie. More synergy between digital operations and consumer products, while maintaining financial discipline, seems to be an important priority.
-
Advisors and clients would benefit acknowledging what's really driving financial decisions.
-
Advisors often fail to truly understand their clients' most vital goals, an advisor says at the InVest Conference.
-
Panelists: Danielle Fava, Director, Product Strategy and Development, TD Ameritrade Institutional; Andrew Manning, MBA, FCSI®, Head of Wealth Management Intermediaries Marketing, Americas Invesco; and Max G. Winthrop, CEO, Winthrop Wealth Management.
-
The Consumer Financial Protection Bureau issued a temporary final rule that allows mortgage servicers to initiate foreclosures on abandoned properties and certain delinquent borrowers, but it also outlined additional measures that shield distressed homeowners.
-
Ginnie Mae is allowing lenders to securitize modified home loans with this extended term as the Biden administration works to make more housing options available for struggling borrowers.
-
Gordon is currently president of the National Community Stabilization Trust, a nonprofit organization that promotes neighborhood revitalization and housing affordability.
As the risk of a recession rises, commercial real estate loans remain a major concern for banks and industry participants. One observer asked: "Is '25 the year where sellers start to capitulate, call a loser a loser, and move on?"
The American Fintech Council requested a 30-day extension for buy now/pay later providers to submit information about their businesses to the New York Department of Financial Services. New York is the first state to institute a law specifically regulating BNPL.
-
Economic downturns are inevitable, but regulatory overreaction to them shouldn't be. We need to rethink the way banks are allowed to recover from economic shocks.
-
The company's shareholders are ill-served by its large investments in fossil fuel projects that both damage the environment and present major financial risks.
-
Legislation enabling new banklike stablecoin issuers would create direct competition for deposits, with small U.S. banks in the most danger. Where is the pushback from the industry?
-
The crypto lender issued over 5,000 loans to residents without a license and failed to assess repayment ability, the DFPI said.
-
Rep. Bryan Steil, R-Wis, and Rep. Ritchie Torres, D-NY, introduced a federal earned wage access bill that would prevent EWA from being classified as credit and preempt any state from designating it as such.
-
The investment banking giant reported an 18% increase in net income for the fourth quarter and stuck to its 2-year-old financial targets, even as it exceeded some of them.
-
Noelle Acheson explains how on-chain vaults, born in decentralized finance, could shape the centralized banking of tomorrow.
-
The new developer assistant helps corporate clients and partners find and integrate the bank's APIs into their programs and websites.
-
Stablecoin yield has continued to be a flashpoint as bank groups look for a blanket ban on crypto exchanges and other nonbanks offering yield-like rewards for holding crypto.
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
- TechnologyWednesday, ThursdayThe latest industry developments from digital banking to cybersecurity to AI.
- PaymentsDelivered Every WeekdayAn early-morning roundup of important headlines from the past 24 hours.
- Best of the WeekFridayThe most important and widely read stories from the previous week.
Continuing to retreat from Biden-era rules, the Consumer Financial Protection Bureau and Department of Justice withdrew a 2023 advisory opinion that had cautioned about denying credit to immigrants.
The U.K. payments processor announced its acquisition of an alternative merchant acquirer license from the state of Georgia as part of its U.S. expansion.
The 23rd annual ranking of women leaders in the banking industry.
- Sponsor Content from TransUnion
-
Sponsored by IntraFi - Sponsored by S&P Global
- Sponsored by S&P Global
