In an interview at ICE Mortgage Technology's annual conference, Bob Broeksmit also expressed skepticism of market dominance among just a few large lenders.
Kristiane Koontz at Zions and Neal Shah at Regions explained how they are coping with the many challenges of rebuilding the technology foundations of their banks at American Banker's Digital Banking Conference.
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White House National Economic Council Director Kevin Hassett said Friday that the administration expects banks to voluntarily issue "Trump cards" with 10% rate caps, a move that could quell Congress' moves to impose a cap through legislation — but that's no guarantee.
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Merchant groups are not taking a position on President Donald Trump's threats to cap interest rates, but they are bullish on the president's endorsement of the Credit Card Competition Act.
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Bilt's new card caps interest rates at 10% for one year and Affirm is adding BNPL for rent as analysts predict the political environment will benefit fintechs.
The newness and potential risks of the technology are factors, but there are also fixable mistakes companies make that prevent payoff.
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Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
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The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
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Morgan Stanley CEO Ted Pick downplayed the importance of government investigations into potential money laundering issues involving wealth management clients. "We've been focused on our client on-boarding and monitoring processes for a good while," he said.
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The deal, expected to close by the end of 2025, will place Mr. Cooper CEO Jay Bray as president and CEO of Rocket Mortgage.
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The government conservatorship of Fannie Mae and Freddie Mac wasn't meant to last forever, but releasing the companies is complicated and should involve a diffident Congress, housing policy experts said during a Federal Reserve Bank of Atlanta housing panel.
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Federal Housing Finance Agency Director Bill Pulte is the new chair for both and he has removed several members while adding a few new names at each.
Noelle Acheson explains how on-chain vaults, born in decentralized finance, could shape the centralized banking of tomorrow.
In a blow to the President's economic agenda, the high court said the trade barriers could not stand.
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Real due process in bank supervision is not merely administrative housekeeping — it is fundamental to the credibility, fairness and effectiveness of the regulatory system.
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The enhanced Supplementary Leverage Ratio has for too long wrongly penalized low-risk market-making activity by U.S. banks. Targeted reforms come at a time when liquidity is about to be severely tested.
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Noelle Acheson looks at how zero-knowledge proofs are more than a new way of looking at financial compliance — they also change how we understand the ownership of knowledge.
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A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign.
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Investors claim JPMorganChase collected fees while ignoring suspicious transfers linked to a $328 million crypto Ponzi scheme.
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Borrower equity fell $78.8 billion, or 0.5%, year over year in Q4, according to Cotality's Home Equity Report. That's an average decrease of $8,500.
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Federal bank enforcement actions have dropped sharply since the start of the second Trump administration, but experts' views vary about whether less enforcement will result in a buildup of risk in the financial system.
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Billy Beale, who was hired to clean up Virginia-based Blue Ridge Bankshares after its failed foray with fintechs, has left the $2.4 billion-asset company. His successor is Harry Golliday, who was named interim CEO.
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Dynasty accuses Merrill of acting in distorting the court record in its attempt to force a dispute over a giant breakaway team before FINRA arbitrators.
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Billy Beale, who was hired to clean up Virginia-based Blue Ridge Bankshares after its failed foray with fintechs, has left the $2.4 billion-asset company. His successor is Harry Golliday, who was named interim CEO.
Dynasty accuses Merrill of acting in distorting the court record in its attempt to force a dispute over a giant breakaway team before FINRA arbitrators.
The 23rd annual ranking of women leaders in the banking industry.
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