Banco Popular de Puerto Rico

Republicans fail to muster enough votes but Mitch McConnell left open the door for another try; card balances drop again in third quarter but mortgages and auto loan outstandings rise.

The two mortgage companies would need capital of $283 billion to absorb losses before going public, its regulator says; the 50% rise in just 30 days has some worried about another crash.

The announcement is met with an unusual rebuke from the Fed, which wants the programs to continue; the deal would allow the companies to approve credit and customize services.

The regulator said banks must make loans to the oil industry based on risk, not politics; three big banks say they will offer advantageous terms on supply-chain finance.

The former Fed chief would be the first person to hold the top three economic positions in government; lender Oportun Financial filed paperwork to start its own bank in California.

Praise for the former Fed chair as she confronts a troubled economy as presumptive Treasury secretary; the fine is the bank’s second large penalty in the past three months.

The finance unit wants to accept deposits to support its auto lending business; but the U.K. bank is not considering a full exodus from the U.S., where it wants to grow wealth management.

The digital currency’s recent 90% jump is being fueled by ‘less speculative fever;’ the liquidity facility designed to enable small banks to make more PPP loans has been extended until March.

A bipartisan group proposed a $908 billion measure while Mitch McConnell unveiled his own plan; the rally has pushed borrowing rates to their lowest levels since the pandemic started.

Randal Quarles said banks should have used their extra capital cushions to help more during the pandemic; 1% of small business borrowers got 25% of the funds, SBA records reveal.