Federal judge halts CFPB’s small business data collection rule
A federal judge has temporarily stopped the Consumer Financial Protection Bureau from implementing its small business data collection rule until after the Supreme Court rules next year on whether the bureau’s funding is constitutional.
Top banks $2B-$10B: A revamped mortgage lender’s outsize returns
Gateway First Bank, a former nonbank home lender, rode the pandemic era’s mortgage wave to No. 1 on American Banker’s latest list of top-performing banks based on full-year 2022 data. Now it has to cope with the housing market slowdown.
25 community banks with the largest home equity loan portfolios
The top five community banks have more than $670 million in combined home equity loan portfolios as of March 31, 2023.
Fed’s Goolsbee says next rate move is open even as inflation eases
“I haven’t made up my mind for what should happen in September,” Goolsbee said.
Ally builds single sign-on for customers, pushes further into the cloud
Its One Ally strategy is meant to help the bank with personalization and cross-selling.
Congress could actually pass crypto legislation that banks support
While talks between House Financial Services Committee Chairman Patrick McHenry, R-N.C., and ranking member Rep. Maxine Waters, D-Calif., fell apart on stablecoin legislation, crypto anti-money laundering bills quietly moved forward in the Senate.
Banks propose disclosing just 33% of capital markets emissions
More than half of the eight-member Partnership for Carbon Accounting Financials by Barclays and Morgan Stanley voted for disclosing just 33% of so-called facilitated emissions, according to a person familiar with the process. Two members of the group voted for 100%.
Zelle outage, FedNow, Apple Card: Top banking news for July 2023
In July’s roundup of American Banker’s favorite stories: A Zelle outage at JPMorgan Chase could cause headaches for other banks, talking points for understanding FedNow, the Elkhart, Kansas-based Heartland Tri-State Bank is shuttered by the Federal Deposit Insurance Corp. and more.
FedNow represents the next frontier for digital fraud in the U.S.
U.S. financial institutions should look to the U.K. for tips on fighting real-time payments fraud.
Can FedNow give U.S. processors an edge over global rivals?
Payment companies hope the government-backed rail could spur both domestic and international growth for instant settlement.