Two government-sponsored enterprises are looking into expanding mortgage transfers between borrowers, according to the head of their oversight agency.
The New York company makes two- to three-year term loans of between $3,000 and $25,000. It is seeking to distinguish itself from other digital lenders by targeting young adults who have limited credit histories.
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Big national retailers will capture all the financial benefits from proposed reductions in swipe fees, while consumers will be left with fewer benefits programs and less secure transactions.
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Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.
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The Federal Reserve has proposed that the two payments services run seven days a week, meaning they'd no longer close on weekends or holidays. The public has 60 days to comment.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Lehman Brothers Holdings Inc. reached an agreement on a $65 billion liquidation plan with derivatives creditors including Goldman Sachs Group Inc. and bondholders led by the hedge fund Paulson & Co., ending a dispute that threatened to delay its exit from bankruptcy.
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The European debt crisis would pose a threat to U.S. money market mutual funds if a rash of sovereign defaults caused big banks to fail to meet obligations within the next three months.
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Readers react to jilted GSE legacy shareholders and a proposal making it harder to cite disparate impact, criticize Democrats asking the CFPB to stop its payday rule revamp and more.
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The mortgage industry will be looking for answers when Treasury and HUD unveil reports on housing finance reform, but the Trump administration’s plans could also raise a whole new host of questions.
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With long-term interest rates at historic lows, mortgage refinancing is coming on strong. But that additional revenue may not be enough to offset net interest margin pressures and lost servicing income.
The combination, expected to close next year, would create a regional bank with $17 billion of deposits across 10 states.
Even though it's coming during a volatile period for the markets and economy, the cryptocurrency company's planned listing puts pressure on rivals and regulators.
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The Home Loan banks should not be held harmless when they shovel billions of dollars in loans into troubled banks.
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The idea that consumers and small businesses should be assessing banks' safety and soundness makes no sense today, if it ever did at all.
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Small and midsize banks have been a lifeline to startups and founders. In the aftermath of SVB's failure, it is vital to avoid further concentration of the industry around the largest banks.
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Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval.
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The digital neobank is expecting spending to stay strong through current economic conditions, and a new credit card is projected to bring in increased revenue.
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Analysts say the fintech must "grow like a fintech, but be profitable like a bank" as its capital base shrinks to its lowest level to date.
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Comptroller of the Currency Jonathan Gould said Thursday that a proposal to reimagine bank supervisory practices is meant to empower rather than handcuff supervisors by limiting the scope of their examinations.
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A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments.
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Jerry Plush had helmed the South Florida-based bank for nearly five years before agreeing to depart this week. News of the leadership change comes little more than a week after Amerant reported a 43% increase in nonperforming assets.
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Sen. John Kennedy, R-La., asked acting Federal Deposit Insurance Corp. Chair Travis Hill, who has been tapped to lead the agency permanently by President Trump, for a report within 30 days about progress made in the agency's sexual harassment scandal, saying his vote is contingent on that report.
During Thursday's earnings call, CEO Michael Miebach said the payment company is partnering with large technology firms and offering consulting for the emerging form of artificial intelligence, attempting to expand a strategy to draw revenue beyond card processing.
The 23rd annual ranking of women leaders in the banking industry.
