Finance

Fintech firms likely to take a third of traditional bank revenues by 2025, Citigroup report says; Saks, Lord & Taylor say five million card accounts were accessed.

Short sellers tend to go against the tide, making investments based on a belief that a stock is going to tank. These 10 banks have drawn the greatest amount of short-interest activity recently.

The investigation targeted 36 residential mortgage-backed securities deals involving $31 billion worth of loans, more than half of which defaulted, according to the Justice Department.

The Mississippi company will gain nearly $2 billion in loans after it buys Brand Group Holdings.

Midigator, which markets software to help e-commerce merchants manage payment card chargebacks, has received $30 million in funding from private equity firm LLR Partners to further develop the product.

After several years of preparation, Fannie Mae and Freddie Mac will start issuing a new, common mortgage-backed security starting June 3, 2019, the Federal Housing Finance Agency said Wednesday.

Banks would welcome a proposal to loosen Basel III capital restrictions because it would make holding mortgage servicing rights easier and stem the recent exodus of depositories from the servicing business, executives said.

A startup called Spring Labs has launched a blockchain network with the goal of getting lenders and data providers to share data to help verify customers' identity.

Just two months after going all-in on crypto, venture firm Full Tilt Capital LLC has been acquired by a hedge fund looking to make a big bet on blockchain.

The team that founded marketplace lender Avant Inc. raised about $15 million to start a firm that will use blockchain technology and digital tokens to motivate companies to share data about customer identities and credit worthiness.

The San Francisco-based online lender reported a net loss of $115 million for 2017, more than half of which was connected to warrants issued in a deal that stabilized the struggling firm.

Mid-Southern Bancorp could use proceeds to make more loans or to pursue acquisitions.

An affiliate of the private-equity firm Angel Oak is packaging bank-issued sub debt to minimize risk for bondholders. It recently completed its first securitization and has plans to issue two deals a year.

Bank stocks just took a huge beating. The KBW Bank Index plunged 8 percent this week, its worst showing since January 2016.

The company said it could raise up to $25 million through the initial public offering.

With 1.3 billion people who are mostly unbanked in an economy where 85% to 95% of all transactions are still conducted in cash, few other markets have such an opportunity to modernize payments.

Are American college students using their student loan dollars wisely? A LendEDU study explored how those funds are spent.

Constellation Digital Partners, LLC, has raised $26 million in the last 10 months.

UBS agreed to pay $230 million to resolve a New York state probe into the Swiss bank's marketing and sales of residential mortgage-backed securities before the financial crisis, boosting the state's recoveries in the investigation to almost $4 billion.

The Federal Reserve raised interest rates by a quarter-point at its Wednesday meeting and more increases are expected this year. Here's what credit unions need to know to be prepared.