A recent shakeup in the mortgage industry could cut junk fees
Rocket Mortgage’s acquisition of Redfin has been mischaracterized as harming competition in the mortgage lending space. The truth is that it could be a major boon for mortgage borrowers.
GOP megabill cutting CFPB funding goes to Trump’s desk
House Republicans overcame internal divisions to narrowly pass President Trump’s tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau’s funding level, among other provisions.
DailyPay sells bonds tied to fees on wages that workers tap instantly
Barclays led the sale, which consisted of three investment grade rated bonds and one rated junk.
How BBVA is using AI to save employees 3 hours a week
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
CoastalSouth’s IPO prices at lower than expected range
Atlanta-based CoastalSouth’s initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week’s banking news roundup.
Capital One confirms Discover home equity shutdown
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
Exclusive: BECU acquires EarnUp’s generative AI unit
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp’s AI Advisor product.
Fed sanctions Wyoming bank employee for embezzlement
The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
Bond traders scrap bets on July rate cut after strong jobs data
Treasuries tumbled after a stronger-than-expected jobs report for June prompted traders to exit bets on an interest-rate cut by the Federal Reserve this month.
Press Release: FDIC Issues List of Banks Examined for CRA Compliance
PRESS RELEASE | JULY 3, 2025 FDIC Issues List of Banks Examinedfor CRA Compliance WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in April 2025. The […]