Banks sue Fed over stress tests
The Bank Policy Institute, the American Bankers Association and others said proposed changes would address “some if not all” of banks’ concerns about stress tests, but they are filing the lawsuit to preserve their legal right to do so.
Financial literacy can lift up historically marginalized communities
Banks can and should play a key role in giving members of minority groups and other underserved communities the tools they need to navigate an increasingly complicated financial landscape.
20 banks and thrifts with the most first-mortgage loans
JPMorgan Chase, Wells Fargo, Bank of America, U.S. Bank and Citi had more than $1 billion in combined first-mortgage loans as of Sept. 30.
Are fintech loans a better deal for subprime customers?
Fintech lenders often get criticized for high rates or fees on their consumer lending. But there’s an argument to be made that the alternatives are worse.
Fed to consider changes to stress testing
The Federal Reserve will seek comment on their current stress-testing regime with an eye toward increasing transparency and reducing volatility. Modifications would not go into effect until at least 2026.
CFPB sues Rocket Homes, brokerage over kickback scheme
The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage.
Why Visa is homing in on the creator economy
The emerging industry could be worth as much as $480 billion in two years, and payments are central to that growth.
Discover fixes SEC issue that delayed Capital One deal
The two companies continue to tick items off their year-end to-do list, which analysts hope will tee up the merger for finalization in early 2025. Regulatory approval remains a major question.
What lenders want to see from Trump on regulation in 2025
The industry agenda calls for amending longstanding rules like loan officer compensation, to nixing Biden-era plans trade groups say hurt both consumers and industry players.
State Street deposited $100 million at minority banks in 2024
The custody bank achieved its goal for the amount of deposits it placed into minority banks and community development financial institutions by the end of the year.