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The fintech revolution has been more successful at working with banks than at trying to replace them, points out Gene Ludwig, former Comptroller of the Currency, chair of the Ludwig Institute for Shared Economic Prosperity, and co-founder of Canapi Ventures. Those with "must have" products will fare far better in 2024 than those with "nice to have" tools, he says.
January 2 -
Citizens' SVP and director of mortgage secondary and capital markets reflects on what her experience with past cycles suggests about where this one may be headed.
December 27 -
The muni market finances the "fabric of our nation, and now, because of Citi's exit, the cost of financing for state and local governments is going to go up," a sell-side source said.
December 15 -
Anne Marie Pippin, associate director in the Federal Housing Finance Agency's Office of Financial Technology, weighs the forces shaping the industry's future.
December 1 -
The move gives stockholders a greater portion of recurring, predictable income as private equity asset sales stagnate due to higher interest rates and jitters over a potential recession. In exchange, the firms' dealmakers will get a bigger slice of the gains when their investments pay off.
November 29 -
Some proposed changes to uniform mortgage-backed securities, apartment loans and derivatives will be made while one involving credit reports and scores was pulled.
November 21 -
The Federal Reserve's vice chair for supervision noted that so-called basis trades by hedge funds are highly leveraged and use minimal haircuts. He added that much of this activity is concentrated among just a few funds.
November 16 -
Officials are looking into the banking giant's anti-money laundering measures with clients outside the U.S.
November 9 -
Financing buyouts with "payment-in-kind" loans can preserve cash, but cost more; banks are losing out to private lenders on some of these deals.
November 2 -
Charlie, a neobank marketed to people 62+, and Carefull, which partners with financial institutions, recently raised their Series A's. A third, called EverSafe, is embarking on its first fundraise.
November 1