Investments

The online lender, which raised $240 million, wants to take its artificial intelligence technology for evaluating borrowers to the next level and expand its partnerships with banks, its CEO says.

The Federal Reserve's “midcycle” assessment — conducted in light of the COVID-19 pandemic — said the path of the economic recovery is still uncertain even though the banks that were evaluated maintained adequate capital levels under hypothetical scenarios.

The spending plan passed in a party-line vote, but board member Todd Harper's objections indicate he could push for closer oversight if President-elect Joe Biden elevates him to the chairmanship.

Citigroup found that the rapid enactment of a carbon tax would likely lead to a significant increase in losses on loans the bank has made to certain oil and gas companies.

Credit union trade groups said the regulator’s spending plan indicates the agency isn't listening to feedback and needs to make further cuts while providing more support for de novos.

His comments came a day after the Fed announced it had formally joined an international network of central bankers and regulators focused on mitigating climate risk to the financial sector.

As with most things related to 2020, COVID-19 will be a deciding factor as the Federal Reserve considers whether banks are able to increase their dividends or resume share buybacks.

Fannie hasn't completed any credit risk transfers to private investors since the second quarter. Some experts worry the decision — likely spurred by the company’s concerns about a recent capital regulation — could put the mortgage giant on unsteady footing.

Board member Todd Harper was concerned that the credit union regulator was not adequately preparing for the impact of prolonged economic turmoil and could be caught "flat-footed" as it was heading into the last crisis.

As it does with savings, Digit's algorithm calculates how much users can siphon off their earnings into retirement without missing the funds.

Marqeta, a payments startup backed by Goldman Sachs Group Inc. and Visa Inc., hired underwriters for a planned 2021 initial public offering, according to people with knowledge of the matter.

Some large banks have come under fire from the GOP for curbing services to firms in controversial industries, such as firearms and fossil fuels. A proposal by the Office of the Comptroller of the Currency aims to block banks from taking such stances.

The Partnership for Carbon Accounting Financials recently released a methodology for measuring the environmental impact of loans and investments, a key hurdle to the banking industry's long-term goal of net-zero emissions tied to its portfolios.

Democrats called the decision by Treasury Secretary Steve Mnuchin "misguided," arguing that it's too soon to shutter the Federal Reserve's emergency-lending programs. Republicans say the programs have run their course and should expire a the end of the year.

Companies like Affirm and Klarna have been a beacon for investors, leading to at least one multibillion-dollar planned IPO in support of a point-of-purchase lending model that could set the stage for use cases well beyond credit.

Global regulators are preparing to tighten restrictions on companies believed to have threatened the financial system at the height of pandemic-fueled volatility.

Savings to the credit union regulator's operating budget are largely the result of surplus funds from 2020 and expected reductions in travel into next year.

Freddie Mac representatives would not comment on the sudden resignation of Brickman. Interim CEO Michael Hutchins has served as Freddie’s executive vice president of investments and capital markets since January 2015.

The oversight council’s statement on the FHFA’s proposed capital rule raises questions for market participants trying to anticipate a post-conservatorship secondary mortgage market.

The Toronto company says it will begin by gathering data on the greenhouse gas emissions of borrowers — a critical first step toward stress testing for climate events.