ORLANDO, Fla. - (03/17/05) -- One expert is anticipating a sharprise in interest rates in the near term, and that could mean abursting of the so-called housing market bubble. "We expect aninterest rate spike in the next three to six months," DwightJohnston, VP-economic and market research with WesCorp, toldattendees of the Financial Solutions Symposium here hosted byWestCorp and Callahan & Associates. That upward spike won't bebecause of any action by the Fed, he suggested; rather it will be achange in psychology. "We're going to wake up one day and justdecide rates are too low," Johnston offered. He said people aregoing to come to the realization that housing costs--and the factpeople can't afford their own homes-does matter. "I believe thebubble will burst. The bigger question is where and when," he said,noting some parts of the country may be insulated from the bubble'sburst.
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
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The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
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Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
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Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
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A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
July 2