Matt Scully
Matt Scully is a reporter based in New York. He covers large banks and reports on complex financial topics, often related to the post-crisis recovery of consumer and mortgage credit. He tweets news often @scullymb.
Matt Scully is a reporter based in New York. He covers large banks and reports on complex financial topics, often related to the post-crisis recovery of consumer and mortgage credit. He tweets news often @scullymb.
Four years after agreeing to an initial settlement, Bank of America has won court approval for its $8.5 billion settlement with investors over Countrywide's mortgage practices. Here's an update on all the other big mortgage litigation outstanding.
The Wisconsin bank's cautious approach to technology and other innovations says a lot about its overall philosophy. It is treading carefully on Apple Pay, marketplace lending and other cutting-edge items while it is encouraged by its customers' switch to electronic banking.
Fresh questions are being asked about the role of investors in the rental market and how their eventual exit may impact mortgage lending, property values and the economic recovery.
Marketplace lending platforms like Lending Club still need banks to make the loans. Cross River Bank CEO Gilles Gade, who has deals with 14 platforms and has talked with dozens of others, explains the mechanics of these agreements in a Q&A.
Wealthy investors from China and the Middle East are using Citi's private bank to acquire land and fracking rights as vulnerable owners consider emergency liquidations.
Fidelity Investments and Federated Investors are walking clients through major changes in the $2.7 trillion money fund business as banks fear another blow to funding.
It's a mortgage on top of a mortgage, and at least one lender is making these loans again through brokers.
Investors lined up to buy five times more than the amount of bonds available in a securitization of loans originated on the Prosper Marketplace that BlackRock sold this week.
Marlette Funding, an Internet marketplace lender, wants to figure out a way to accept online deposits so it can rely less on investors to finance its loans.
Bank of America is following Wells Fargo by putting out for sale the last of its federally guaranteed student loans. The move should be positive for the bank, and in theory it may even have a chance to again reap returns tied to the loans, but without bearing all of the risk.