The Latest

Ashley D. Bell and Bernice A. King, respectively the CEO and advisory council chair of Ready Life, are teaming up to help folks with poor credit buy a home by using rent payment history for mortgage underwriting.

In global news this week, the EU wants to update open-banking rules, India plans a crackdown on domestic banks' outsourcing, LianLian in China launches a cross-border wallet for U.S. merchants, and more.

The move builds on the government-sponsored enterprise’s previous program that facilitated the collection of more rent payment records from tenants who work with its multifamily borrowers.

The U.K.'s Payment Systems Regulator is reviewing the card brands' fees, and promises to support competition for the U.S.-based companies.

The next generation of Senate Banking Committee Republicans has signed on to the latest salvo by Patrick Toomey — who will soon leave Congress — against the Federal Reserve Bank of Kansas City. That means the master accounts issue will live on.

Bank and financial services supervisors have an affirmative duty to address the deep economic divide facing minorities in the U.S.

A dirty little secret in a $1.2 trillion world of credit is getting exposed as the Wall Street rout deepens: Private debt is now the cheaper financing option for big-ticket leveraged borrowers than the ailing public market — upending industry norms.

Large banks are facing an increasingly difficult challenge on environmental and social issues: balancing the demands of progressive activists and their own employees with those of Republican state officials. One analyst calls it the “goldilocks dynamic.”

The U.S. Chamber of Commerce and three bank trade groups said the Consumer Financial Protection Bureau’s anti-discrimination policy exceeds its legal authority. 

The Tokyo-based company has named Masatoshi Komoriya executive chairman of the board of directors for MUFG Americas Holdings Corp. and its U.S. banking subsidiary. He begins his new role on June 30 while retaining existing executive duties.