Vets from Apple, Bank of America join Chargebacks911 to fight friendly fraud
Guy Harris and Eric Hoffman joined the company’s leadership team to help it manage an industrywide spike in suspect payments.
It’s time to remove the element of surprise from mass arbitration
Mass arbitration is a fact of life in modern consumer finance litigation. Those hoping it will go away through court decisions or legislative change are primed to be sorely disappointed.
Why SoFi may see limited gains from restart of student loan payments
High interest rates could dampen demand for refinancing, which took a hit during the pandemic-era pause in federal student loan payments. “Curb your enthusiasm,” one analyst said.
U.S. consumer borrowing rises at slowest pace since late 2020
Adjusted for inflation, consumer spending has largely stalled after surging at the start of the year. Delinquency rates, meanwhile, are ticking up.
Hsu backs Fed’s Barr in call for strengthening capital requirements
The acting comptroller of the currency says regulators are aligned on rule changes, but noted that forthcoming policy proposals are being driven by more than just recent bank failures.
Wall Street banks face $8 billion in municipal bond price-fixing claims
Some of the biggest banks on Wall Street are expected to go to trial in Illinois next month to face allegations they inflated interest rates on bonds to finance public works.
Citi, TD, Wells Fargo among banks testing regulator-friendly blockchain
A number of large banks, the Federal Reserve of New York and Swift participated in a proof of concept of a shared ledger that would allow cross-border transactions to settle instantly in U.S. dollars — with regulators literally in the loop.
Fed’s Daly: Supervisory ‘slowness’ led to Silicon Valley Bank failure
Federal Reserve Bank of San Francisco president Mary Daly insisted that supervisory failures that contributed to the downfall of Silicon Valley Bank were reflective of directives handed down from the Federal Reserve Board of Governors, and made the case for ‘agility’ in bank supervision.
Fed’s Barr optimistic about banks’ ability to meet final Basel rules
In a speech Monday, Federal Reserve vice chair for supervision Michael Barr said the few banks that would have to raise capital under the final Basel III capital rules would be able to do so fairly quickly and without reducing dividends.
Credit union in Michigan brings mortgage aid to members in Nevada
The $4 billion-asset United Federal Credit Union partnered with the Nevada Housing Division to offer first-time homebuyers access to down-payment assistance.