The Minneapolis-based regional bank is extending home-improvement loan durations by as much as two years in a bid to continue capitalizing on a long-running remodeling boom.
The investment broker announced a real-time trading and settlement option for its tokenized money market fund through USDC stablecoins and the ethereum ledger.
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Banks that don't offer buy now/pay later risk pushing customers — especially younger ones — into fintechs' arms.
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The $8.2 billion-asset bank says it's nearly finished building a platform that will provide gaming operators with real-time payment capability.
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BVNK's technology enables traditional currency and stablecoins to work together, and will enable the card network to improve distribution for clients that use digital assets.
The bank's AI-based virtual assistant, which began development 10 years ago, is now used by 42 million customers and more than 200,000 employees. It does everything from sending wire transfers to unlocking corporate phones.
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Chris Shelper is now the sole chief banking officer at First Interstate BancSystem; Kristy Fercho joins LERETA's board of directors; Truist Financial launches a business focused on private equity and family office transactions; and more in this week's banking news roundup.
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The 170-year-old Salem Five Cent Savings Bank has hired one private banker and could scale the business further if its performance matches management's expectations.
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MetroCity Bankshares in Doraville, Georgia, plans to finalize its acquisition of First IC Corp; Rockefeller Capital Management's Brian D. Riley will join BNY Wealth as global head; Blackstone appoints former Morgan Stanley rainmaker Franck Petitgas to a top role in Europe; and more in this week's banking news roundup.
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Realtors and loan officers are wary of using artificial intelligence in place of a real estate agent, after a homeowner claimed to realize meaningful savings.
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In an interview at ICE Mortgage Technology's annual conference, Bob Broeksmit also expressed skepticism of market dominance among just a few large lenders.
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A Federal Housing Finance Agency report suggests it should have more authority over companies that work with Fannie Mae and Freddie Mac.
The Federal Reserve's recently published request for information on options for updating its check clearing apparatus has bankers fearing that it will opt to phase out paper checks entirely — an outcome that has community banks panicked.
Federal Reserve Gov. Michael Barr said in a speech Tuesday afternoon that he wants to see a durable and reliable reduction in consumer price inflation before he considers cutting the central bank's interest rates.
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Branchless and out-of-state banks are harvesting deposits in Florida and lending them out elsewhere, a situation that leads to serious underinvestment in desperately needed infrastructure and affordable housing.
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New research sheds light on the real causes of bank failures; and the economic numbers aren't adding up to a recession, yet.
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If we allow algorithms to inherit yesterday's incentives — maximizing return, minimizing empathy — then tomorrow's system will be flawlessly efficient at reproducing inequality.
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The legislation would grant the Consumer Financial Protection Bureau, among other agencies, more oversight of airline-branded credit cards and rewards schemes.
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PayPal, Stripe, Visa and Mastercard must be vigilant against offboarding clients for political or religious reasons, the Federal Trade Commission warned Thursday.
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The French crypto wallet company is expanding into the U.S. and growing its institutional enterprise offerings as new regulation opens opportunities for digital asset investment.
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New questions about Fannie Mae and Freddie Mac's guarantee by experts who saw conservatorship start points to tensions in a stalled secondary offering.
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The 30-year fixed mortgage has increased by 40 basis points since February, while the 15-year is 14 basis points lower than a year ago, Freddie Mac reported.
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Affordability improved in February as rates dipped below 6%, but March's climb to 6.43% signals tougher months ahead. Lenders should act now on pockets of opportunity before rising rates erode recent gains.
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New questions about Fannie Mae and Freddie Mac's guarantee by experts who saw conservatorship start points to tensions in a stalled secondary offering.
The 30-year fixed mortgage has increased by 40 basis points since February, while the 15-year is 14 basis points lower than a year ago, Freddie Mac reported.
Under Habner's leadership, Citi has become the third largest issuer in the U.S. general purpose credit card market.
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