Barclays said to ready sale of German consumer finance business
The business is deposit-taking and offers revolving credit cards as well as loans for small-ticket items. The potential sale could serve as a benchmark for other lenders considering selling their own consumer finance businesses.
American Express looks downmarket in the hunt for overseas appeal
American Express is turning to some unusual allies in its quest to gain popularity overseas: shoe-repair shops and bargain stores.
Scale back CFPB rules? Let’s be careful what we wish for
If the Supreme Court strikes down CFPB regulations by ruling against the constitutionality of the agency’s structure, technological innovation will be harder for banks to achieve as regulatory clarity moves further out of reach.
With fintech investment cooling off, VCs weigh their next move
Venture capitalists are increasingly keen on firms that can guide merchants through a maze of emerging processing options.
Foreclosure filings up 13% in first half of 2023
But the volume of activity for distressed properties is still lower than the historic norms, Attom Data Solutions said.
Bipartisan duo revamps crypto bill with juiced-up consumer protection
Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y., unveiled their latest effort to regulate the U.S. cryptocurrency industry, placing greater emphasis on consumer protection following a string of high-profile company failures last year.
U.S. Bank unveils home-buying assistance aimed at borrowers of color
Eligible customers would receive a credit of up to $5,000 that can be put toward expenses like closing costs, or used to secure a lower interest rate. It’s the latest example of a bank launching a program aimed at extending credit to minority borrowers.
Fed bid to hike bank capital slammed by ex-supervisory chief Quarles
Former Federal Reserve Vice Chair for Supervision Randal Quarles criticized his successor’s plan to significantly increase capital requirements for big banks, saying it would needlessly hurt the economy.
Warren takes aim at Biden administration, OCC’s Hsu over bank mergers
Before a hearing in which Sen. Elizabeth Warren, D-Mass., said she would reintroduce legislation making it harder for large banks to merge, the Senate Banking Committee sent three Federal Reserve nominees to the full Senate.
Bank profits set to disappoint amid tougher deposit competition
For now, worries about more bank failures have faded. But in the wake of the recent industry turmoil, higher funding costs are expected to weigh on banks’ second-quarter results.