Warner, Crapo press OMB on unobligated CDFI money
The CDFI Fund has yet to announce and disburse awards for five programs, even though applications closed months ago, the lawmakers said in a letter to Office of Management and Budget Director Russell Vought.
Banks, credit unions turn to AI for customer service boost: Report
Artificial intelligence is helping banks and credit unions reduce friction points in their customer experiences and more, per new research from American Banker.
Bipartisan bills call for annual Treasury stress test
The legislation would direct the department to assess the federal government’s ability to respond to a host of systemic challenges including war, pandemic and financial crisis.
Cash-flow underwriting would bring fairness to mortgage lending
Federal Housing Finance Agency Director Bill Pulte should direct the agency to examine credit scoring models based on cash flow as a complement to existing systems.
SoFi raises guidance after surging past estimates in Q2
After leaving Wall Street’s expectations in the dust, the San Francisco-based fintech dialed up its outlook for the rest of 2025. And as regulators warm to crypto, SoFi sees opportunities for years to come.
Housing bills advance with pluses, minuses for bankers
The Senate Banking Committee passed a housing package that includes funding for manufactured and other kinds of housing, but also includes an appraisal provision that mortgage bankers oppose.
PayPal battles tariffs as it pushes global payment growth
The company is relying on a boost from initiatives in crypto-related finance, AI-powered payment tech and connections to international digital wallets, though analysts cautioned geopolitics are hindering momentum.
This is why branch banking persists despite reports of its demise
The continued investment in branches is a continued investment in bankers. A well-trained, motivated banker turns a physical location into a relationship hub.
Jack Dorsey’s Block aims to draw Cash App users with group payments tool
Jack Dorsey’s Block Inc. is adding a group payments feature to its Cash App as it aims to attract out of network users to its peer-to-peer money transfer and banking app.
Blackstone’s Wesley LePatner killed in Manhattan shooting
The former Goldman Sachs executive was reportedly shot accidentally by a Las Vegas man targeting the National Football League.