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Banco Santander joined existing investors JPMorgan and USAA as well as others in raising $25 million in secondary-round financing for Roostify, which seeks to build a paperless mortgage process.

The Pew Charitable Trusts has released a set of 10 standards for banks and credit unions that want to to offer small loans to subprime customers. Among its ideas: keep monthly payments at or below 5% of the borrower’s paycheck and make loans available quickly through digital channels.

Freddie Mac posted a fourth-quarter net loss of $3.3 billion and will request $312 million from the Treasury after recent tax reform legislation forced it to write down the value of deferred tax assets.

Despite a legislative push by some senators and other stakeholders to jump-start housing finance reform, efforts to form consensus over a bill once again are stuck in neutral.

U.S. fintechs attracted $5.8 billion in the fourth quarter as institutions sought an AI edge.

Erminia Johannson's promotion is part of an effort by BMO Financial to generate more revenue from its U.S. operations.

The Pew Charitable Trusts has released a set of 10 standards for banks and credit unions that want to offer small loans to subprime customers. Among its ideas: keep monthly payments at or below 5% of the borrower’s paycheck and make loans available quickly through digital channels.

U.S. Bancorp has agreed to pay $613 million in penalties to state and federal authorities for violations of the Bank Secrecy Act and a faulty anti-money-laundering program.

Though Fourth Corner CU's conditional access to the Fed is important, legal marijuana businesses seeking financial services are still very much in limbo.

As U.S. banks were tallying up the billions of dollars in extra profits they'll reap from the sweeping tax cuts signed into law by President Donald Trump, they were quietly delivering unwelcome news to local governments: The interest rates on their loans were about to go up.

Former director says his old agency is now “favoring predators”; Senator is looking into how the bank’s program to repay improperly charged loan customers.

The cashless society is no longer just a feast for the 527 million Chinese mobile payment users, but to anyone with a solid digital footprint, according to Franklin Chu, managing director for Azoya USA.

Popular will acquire $1.5 billion in auto loans amid questions about the potential for loan losses following Hurricane Maria. The deal also coincides with Wells Fargo's need to stay inside a growth cap imposed by regulators.

The legislation, introduced by Rep. Patrick McHenry, R-N.C., would essentially reverse a court ruling that marketplace lenders say has blocked them from helping more consumers access credit.

The CFPB sought input Wednesday about the effectiveness of its supervisory activities and added more topics, including consumer complaint reporting, to a review of all aspects of the agency's operations.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney is discarding many of the policies of his predecessor but none as important perhaps as the agency's targeting of "unfair, deceptive or abusive acts or practices."

Tax reform caused Fannie Mae to burn through retained earnings that had been approved just two months ago and to post a fourth-quarter loss. CEO Timothy Mayopoulos argued it was a one-time event that overshadowed strong fundamentals.

Payworks has raised $14.5 million in a Series B funding round with several participants including Visa and CommerzVentures.

Sen. Elizabeth Warren, D-Mass., asked Wells Fargo's chief executive to address recent reports that the bank's efforts to compensate customers for unnecessary fees is falling short.

The investment continues a trend of banks focusing on commercial payments technology.