Finance

A mortgage program created by a 2015 partnership between the Federal Home Loan Bank of Chicago and Ginnie Mae has securitized over $1 billion in government-backed mortgages, the partnership announced.

China’s Ant Financial, which already has a large stake in India’s Paytm and operates its own Alipay wallet in China, is taking a 45% stake in Pakistan’s Telenor Microfinance Bank (TMB).

Senior leaders at the Federal Reserve, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau said they want examiners to be more understanding of the budding partnerships forming between banks and fintech firms.

To detect and combat transaction laundering — the practice of hiding illegal activity behind a business that appears legitimate — American Express' investment group took a minority equity stake in EverCompliant.

The company has agreed to buy United Community Bancorp. With the $114 million deal it would add five branches in the Cincinnati area.

Backbone Hosting Solutions Inc., a cryptocurrency mining company, said it plans to invest C$250 million ($193 million) in computing centers in Sherbrooke, Canada.

Limited organic growth opportunities and rising premiums for bigger deals are fueling more sales of banks with $1 billion to $10 billion in assets.

The company has agreed to pay $89 million for Premier Commercial Bancorp. The acquisition would significantly increase its branch presence and lending in the Portland area.

The venture capital firm Anthemis seeded 21 fintech startups in its first discretionary fund, which raised $106 million. It favors management teams made up of people from all walks of life who have fresh ideas about shaking up banking and insurance.

Tight margins, regulatory clarity and a renewed appetite to expand have made mortgage brokers and the wholesale channel attractive again, at least to the small and medium mortgage lenders.

The Golden Contract Coalition, formed in mid-2016 to get community banks better deals with the “big three” core systems vendors, said banks need help with buying from fintech sellers as well.

Wells has helped gun and ammunition companies access $431 million in loans and bonds since the 2012 Sandy Hook shooting. Other financial firms that are active as bookrunners for gunmakers include Morgan Stanley, TD Securities, Bank of America and JPMorgan Chase.

Royal Bank of Scotland Group has agreed to pay $500 million to the state of New York after a $5.5B agreement last year with the FHA, and another probe is pending.

Deposit prices are starting to rise, deposit growth is slowing, commercial loan growth remains tepid (with some exceptions) and concerns are mounting about the economic toll of U.S. trade policy, bank executives said just a few weeks ahead of the end of the quarter.

The company received bad news about the commercial loan after it reported a narrow profit in mid-February.

Two groups have announced plans to open banks in the state, and several others have had talks with regulators. Is there room for more?

Sterling would gain $458 million in loans and an origination platform by acquiring Advantage Funding Management.

OP Bancorp in Los Angeles aims to raise $20 million to fund organic growth and acquisitions.

Spirit Community Bank would be based in Statesville, a community about 45 miles north of Charlotte. A separate set of organizers has already shared plans to open a bank east of Charlotte.

RecargaPay, an eight-year-old mobile payments platform targeting unbanked and underbanked consumers in Brazil, has secured $22 million in funding to reach more users and merchants.