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New research from the Consumer Financial Protection Bureau indicates consumers relying on BNPL loans are much more likely to use payday and pawn loans, revolve credit card balances and overdraw their bank accounts.
March 2
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The Federal Home Loan Bank of San Francisco confirmed Thursday night that Silvergate Bank has "fully repaid" the $4.3 billion it was lent in advances late last year. The bank had said in a regulatory filing that repaying the advances "could result in ... the bank being less than well-capitalized."
March 2
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Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y., said that the bill would address some concerns from various regulators, but will steer clear of addressing access to Federal Reserve master accounts.
March 2
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The Federal Reserve Board of Governors ordered FMB Bancshares to implement significant management changes and capital restructurings in 2009.
March 2
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Clear Street is bringing on a market maker as a strategic investor as it expands its product set.
March 2
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The specter of an economic downturn looms, but many companies are still in growth mode, according to Donald McCree, head of commercial banking at the Rhode Island bank. "We continue to hear from a lot of companies that they are doing quite well," he said.
March 2
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The increase reflects the rise in the 10-year Treasury yield, which is back above 4% for the first time since that month.
March 2
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The banks that own Zelle face long odds in displacing Apple Pay and Google Pay, but the effort could help build the infrastructure for a new account-to-account payment system, some experts say.
March 2
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In the starkest warning yet by a U.S. bank catering to the sector, Silvergate said it needs more time to assess the extent of damage to its finances stemming from last year's crypto rout — including whether it can remain viable.
March 2
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The Ohio-based bank concentrated most of its lending branches in majority-white neighborhoods and did nothing to compensate for its lack of physical presence, the DOJ claims.
March 2
