ALBANY, N.Y. -
The funding, part of $360,000 awarded to three CDCUs, can be used for new loans only, not refinancing, and is not available for non-profits. The maximum allowable loan is $25,000 and the terms are up to three years with a fixed rate of 6% and a rate subsidy of 6%. Borrowers must receive technical assistance related to their business.
The conservative-aligned bank still plans to go public, but will do so in a way that bypasses the need for the Federal Reserve's approval. Old Glory's CEO said the Fed failed to approve its recent application because the bank is "pro-crypto."
While the three largest lenders now offer VantageScore, Bank of America Securities says two agency pulls boosts consumers scores, no matter which model.
Delays in Western Union and International Money Express' proposed merger have forced the companies to refile with antitrust regulators, which could trigger a new 30-day waiting period that could cause further delays.
Paxos Lab's digital token enables users to bet on gold leasing, another hedging option to traditional banking, stablecoins and cryptocurrency amid geopolitical pressures
Federal Housing Finance Agency Director Bill Pulte said last week that it will slash the budget for its inspector general, spurring Senate Banking Committee Democrats to seek his testimony.
The Commodity Futures Trading Commission is seeking industry feedback as it considers a federal framework for leveraged crypto markets.
