Finance

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.

Lenders considering other factors for those with bad or no credit history; the bank plans to sell its French retail unit.

At the median, credit unions saw growth slacken in several key areas during the year ending at June 30.

In an interview with Credit Union Journal, Todd Harper, NCUA board member, said the regulator was working to avert similar problems in the future.

Dimon doesn’t expect it to happen, but the bank is getting ready just in case; the state will require banks to disclose their relationship with gun sellers.

The chairman of the National Credit Union Administration gave CU Journal more details on the agency’s forthcoming rule providing guidance for credit unions purchasing banks.

M&T has skillfully used hedges, maintained an appropriate loan mix and resisted offering market-leading deposit rates, its chief financial officer said at a financial services conference.

For the third time in five months, the San Francisco bank made a downward revision Monday to its guidance on net interest income. An executive cited the impact of lower interest rates.

Make market volatility great again? Analysts at JPMorgan Chase have created an index to gauge the impact of Donald Trump's tweets on U.S. interest rates, which they say is on the rise.

The six biggest banks are expected to issue disappointing forecasts as rates continue to decline; technology stock mutual funds scored with payment plays.

As credit union leaders converge on Washington, here's a look at some of the biggest legislative and regulatory issues facing the industry – and what it might take to move the needle.

Fintechs providing installment loans are attracting significant funding from investors who see opportunities in developed economies for consumer financing products, which are already well established in emerging markets.