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The crash came after China’s central bank warned financial institutions about accepting digital currencies as payment; ComplyAdvantage uses machine learning to ferret out potential risks.
By George YacikMay 20 -
Co-leaders Marianne Lake and Jennifer Piepszak are now seen as the main potential successors to CEO Jamie Dimon; the pay raise, from $20 currently, would take effect by 2025.
By George YacikMay 19 -
The executive faces a tall order in meeting loan balance and deposit goals at the online consumer bank; Warren Buffett’s firm sold 99% of its leading stake in the bank in the first quarter.
By George YacikMay 18 -
Wells Fargo analyst predicts 200,000 reductions in the next 10 years, mostly in branches and call centers; many say the regulators are overreaching.
By George YacikMay 17 -
Earnings jump 24-fold as revenue surges by nearly 10 times, boosted by digital currency rally; online banks cater to people who say they’re not served well by mainstream lenders.
By George YacikMay 14 -
The Diem project seeks U.S. regulatory approval to issue stablecoins to power its payments system; federal judge unfreezes the $5 billion Citigroup mistakenly sent to lenders last year.
By George YacikMay 13 -
As profit margins shrink, Rocket and UWM expect to make it up on greater volume; the program would put the auctioneer in competition with traditional lenders and its former unit, PayPal.
By George YacikMay 12 -
The deal, which could happen this week, would value the mortgage lender at $7 billion; lenders are worried about the impact of CECL, which requires them to recognize loan losses early.
By George YacikMay 11 -
CFPB sounds alarm on the number of borrowers in arrears while the originations market appears to have peaked; crypto firms bulk up on lobbyists as regulators seek more investor protections.
By George YacikMay 10 -
Banks remain well capitalized but hidden risks abound, especially at hedge funds, the Fed’s semiannual report says; the contracts will eventually pay out in cash.
By George YacikMay 7