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Dan Kimerling, whose former company Standard Treasury was acquired by Silicon Valley Bank in 2015, shares his thoughts on what led to the bank's collapse, whether there will be a chilling effect on tech lending and if there is a future for niche banks.
July 6
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Eligible borrowers would receive a credit for up to $5,000 to pay for expenses like insurance, taxes and closing costs. The program comes months after fair-lending advocacy groups criticized KeyBank for its low rate of lending to Black borrowers.
July 6
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Long, founder and CEO of Custodia Bank, has pushed for digital-asset regulation in her home state of Wyoming. Now she's working on a national scale.
July 6
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The payment processor Worldpay was originally supposed to be publicly traded. By taking the unit private and retaining a stake, FIS can remain competitive n merchant services.
July 6
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Some of the world's largest banks found that digital dollars could be an effective way to improve domestic and cross-border payments, according to a unit of the Federal Reserve Bank of New York.
July 6
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The Securities and Exchange Commission plans to hold a meeting next week to finalize the changes, which are meant to prevent the kind of outflows that occurred in March 2020 when the onset of the pandemic roiled markets.
July 6
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A resilient U.S. economy, lingering inflation and comments from the Federal Reserve contributed to a 10-basis-point hike in the 30-year fixed rate, Freddie Mac said.
July 6
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The Consumer Financial Protection Bureau wants to wipe out $9 billion a year in consumer costs by cutting credit card late fees to just $8. But consumer complaints about late fees remain low, and experts say that's because many first-time late fees are forgiven.
July 6
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The company directed its bilingual team to steer customers away from products with no closing costs toward "predatory lending options" without disclosing the costs, in part by refusing to provide Spanish-language written materials, according to a lawsuit filed by current and former members of the company's bilingual mortgage sales team.
July 6
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Lloyds Banking Group, Natwest Group, Bank of Scotland and others will use the artificial intelligence tool in preparation for new rules that will require them to compensate customers affected by "authorized push payment" scams.
July 6
