Goldman’s GreenSky sale enters homestretch with PE in mix
Apollo Global Management, Pagaya Technologies and Sixth Street are said to be working on final offers for Goldman Sachs Group’s consumer-lending unit.
The fight ahead over earned wage access
Maryland is the latest state to decree that employer-sponsored EWA products aren’t loans, but the battle over how they will be regulated is just beginning, experts say.
Credit Suisse’s banker to Russian billionaires retained by UBS
UBS is trying to retain many of Credit Suisse’s most senior wealth bankers, but the decision to bring Babak Dastmaltschi on board, who catered to tycoons emerging from the collapse of the Soviet Union, may raise eyebrows.
Shiny and new isn’t necessarily better than tried and true
Consistent wins aren’t typically about continuously introducing novel strategies, but about better and more consistent execution with proven ones.
Key’s profits have sunk. Can it move fast enough to soothe investors?
The regional bank’s stock price is down 38% this year, and it recently got downgraded by S&P Global. While there’s light at the end of the tunnel — as Key looks to rebound from the negative impact of soaring interest rates — analysts question whether the improvement will take too long to materialize.
Credit-Repair Firms Agree to Settle CFPB Claims for $2.7 Billion
The Consumer Financial Protection Bureau said it would determine whether its victims’ relief fund could be used to make payments to affected consumers because companies that agreed to settle allegations of illegal telemarketing practices are insolvent.
San Francisco Fed bank-supervision chief to depart
Azher Abbasi, executive vice president of the supervision and credit group at the Federal Reserve Bank of San Francisco, will retire on Oct. 31. Niel Willardson, a former Minneapolis Fed official, will replace him as interim executive vice president Oct. 1.
Five Star Credit Union is buying a third Georgia bank
The Alabama-based credit union has agreed to purchase the $215 million-asset OneSouth Bank in Macon; it also purchased Georgia banks in 2014 and 2015.
Small bank offers first Islamic-friendly mortgages in Maine
Devout Muslims cannot pay interest on loans. Androscoggin Bank figured out a way to structure a new product that addresses that challenge and paves a path to more homeownership.
St. Louis Fed seeks macroeconomic expert as next president
The reserve bank formally kicked off its search to replace departed president James Bullard, who held a doctorate in economics and was lauded for his communication skills.