LOS ANGELES - (05/06/05) -- University of Southern Californiasaid its Education Loan Resources CUSO, one of the fastest growingstudent lenders in California, has signed with MRU Holdings Inc.,to provide it with private loan products. Under the three-year dealNew York-based MRU will offer customized student loan products. ELRoriginated more than $100 million of student loans in 2004. MRU hasa well-known brand name, 'MyRichUncle,' and a scalable originationsystem.
Regulators are not requiring banks to verify customer citizenship under a May executive order, which is a relief for banks. But how a new Fincen-led guidance will shift compliance expectations remains unclear, especially for smaller banks.
Federal prosecutors arrested and charged Mahender Makhijani, 44, with orchestrating a $100 million bank fraud against Western Alliance Bancorp.
Federal prosecutors have sought records and account closure data from banks as the Trump administration continues to clash with the industry.
The super-regional bank is increasingly building AI on its own. The point, CEO Bill Demchak said this week, is not just to foster innovation but to protect the bank from rising costs.
The blockchain fintech acquired the real estate lender through a joint venture to tokenize housing loans and test its new AI-powered onboarding agent.
With the big card networks and Coinbase pushing the new form of artificial intelligence, the blockchain company is offering a tool kit to enable AI agents to perform transactions.
