Home buying activity shows signs of returning
A continued slowdown in refinances, though, drove overall loan-application volumes lower last week, even as the Government Index posted a small gain, according to the Mortgage Bankers Association.
Banking industry goes on offensive against Basel III endgame proposal
A joint letter from the banking and financial trade groups is the latest effort by the industry and its representatives in Washington to push back against the Basel III capital proposals, which would raise capital significantly for the largest banks.
Citi plans job cuts as it revamps top management structure
At least four of CEO Jane Fraser’s senior deputies got new roles in the shakeup, which will result in a number of job cuts.
BNY Mellon using open banking to cut friction from B2B payments
The bank aims to use new tech to make account-to-account transfers for merchants an easier option than credit cards.
Does the FHFA know what it’s getting itself into?
Any comprehensive overhaul of the Federal Home Loan Bank System will have to navigate a dense thicket of countervailing regulatory and stakeholder priorities.
At many banks, pandemic-era bond purchases are still tugging at profits
Concerns about large unrealized losses on bond investments have receded since the spring banking crisis, but the paper losses have started growing again in recent months. The worries today are less about banks’ survival — and more about how much their margins will get squeezed.
The year’s 10 largest fintech SPAC mergers announced through June
The top three fintech SPAC mergers have a combined announced deal value of more than $2.6 billion as of the end of June 2023.
Why U.S. Bank created its own font, and how digital design is changing
Recent Arizent research shows that having appealing digital spaces is one of the most important factors for customer experience at banks.
Barclays CEO detects early signs of rebound in investment banking
Mergers and acquisitions are rebounding and equity capital markets are thawing, says C.S. Venkatakrishnan. That’s a welcome forecast after a persistent slump sapped investment banking revenue across the industry.
SEC’s Gensler warns of AI risk to financial stability
Securities and Exchange Commission Chairman Gary Gensler told lawmakers that artificial intelligence could be used to game securities transactions in favor of corporate interests over those of investors. Critics say the SEC’s plan to combat such conflicts of interest is hostile to technology.