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The Consumer Financial Protection Bureau said it would determine whether its victims' relief fund could be used to make payments to affected consumers because companies that agreed to settle allegations of illegal telemarketing practices are insolvent.

Azher Abbasi, executive vice president of the supervision and credit group at the Federal Reserve Bank of San Francisco, will retire on Oct. 31. Niel Willardson, a former Minneapolis Fed official, will replace him as interim executive vice president Oct. 1.

The Alabama-based credit union has agreed to purchase the $215 million-asset OneSouth Bank in Macon; it also purchased Georgia banks in 2014 and 2015.

Followers of Islam cannot pay interest on loans. Androscoggin Bank figured out a way to structure a new product that addresses that challenge and paves a path to more homeownership.

The reserve bank formally kicked off its search to replace former President James Bullard, who held a doctorate in economics and was lauded for his communication skills.

Some banks are gravitating toward API connectivity to build an "ecosystem of applications." Others like a one-stop-shop or ready access to executives.

The U.S. Securities and Exchange Commission is probing the non-QM lender, which pledges to promote homeownership in underserved communities, over its mortgage-backed securities, according to people with direct knowledge of the matter. 

The planned sale marks another step for the Wall Street giant away from previous plans to work more with retail customers.

A former insider wants the Federal Home Loan Bank System's regulator to require its 11 regional banks to balance members' liquidity needs with the system's public mission to fund affordable housing and community development programs.

The top three industries have $19.8 billion in combined fintech financings through June 2023.