Finance

CEOs have been telling investors that if the Fed continues to cut interest rates, they will lower rates they are paying on deposits to minimize the hit to net interest margins. The danger is that if they lower rates too quickly or by too much, big depositors could go elsewhere.

A mortgage industry executive with ties to a firm penalized in a U.S. predatory lending crackdown is being considered by the Trump administration to run Ginnie Mae, according to people familiar with the matter.

Goldman Sachs, Elevar Equity and QED Investors are among institutions financing Mexican lenders that fund SMEs.

Mission Lane, which was spun off from LendUp in December, said Monday that Shane Holdaway took the helm in August after roughly a year serving as CEO of Barclays' U.S. consumer bank. The upstart lender also announced that it has raised $200 million in equity funding.

Plaid, the San Francisco-based financial technology infrastructure provider, has received strategic investments from Mastercard and Visa as part of a $250 million round of funding. Plaid did not disclose the two networks' specific investments.

The move adds heft to the blockchain-based Interbank Information Network; many of those terminated in the phony accounts scandal say they’ve been blacklisted.

The loan participation has been flagged for potentially fraudulent activity.

The bank is adding senior tech executives from Amazon and Verizon as partners; bank allegedly inflated prices and overcharged investors for mortgage bonds.

The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.

Expectations of more rate-cutting and slower GDP growth led the Minneapolis company to scale back its net income and revenue projections through 2022.