Home equity borrowings amounted to $431.3 billion last year, a 35% increase year-on-year and a record high, said SMR Research Corp., a New Jersey market research firm, The Wall Street Journal reported. Most of the growth was in adjustable-rate lines of credit that give the right to borrow up to a certain amount, it said.
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
