COLUMBIA, Md. - (01/02/06) A strict statute prohibiting predatorylending has been signed into law here by Montgomery CountyExecutive Douglas. The bill, which had earlier passed the CountyCouncil, will go into effect on March 8 and affects all federal andstate-chartered institutions, including credit unions, that loanmoney secured by a dwelling on real property in Montgomery County,Md. The reason federal charters are not exempt is the statute fallsunder anti-discrimination laws.
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The embedded banking services Amazon offers to third-party sellers come from the hidden hand of JPMorgan Chase's corporate payments arm, which markets its services to e-commerce platforms on a white-label basis.
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The embattled Long Island bank unveiled a turnaround plan that involves selling noncore assets and diversifying its commercial loan book. But first, it will need to sort through credit-related challenges in its large commercial real estate portfolio.
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During this week's Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank's books each month from $60 billion to $25 billion.
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House Republicans held a subcommittee hearing on reforming bank merger M&A, laying the groundwork to counter Biden administration efforts to make it more difficult for mergers to be approved.
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Bolstered by healthy first-quarter global card-spending trends, Mastercard is focusing on opportunities outside the U.S., including a unique card-processing arrangement beginning this month in China.
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A new policy directive aims to fortify critical infrastructure by enhancing collaboration between U.S. intelligence agencies and systemically important financial entities.
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