Silicon Valley de novo poised to fill gap left by failed banks
The planned Altos Bank in Los Altos cleared a big hurdle this week when state regulators approved its application to open a startup bank. Organizers are hoping for a soft opening before year-end.
‘Oversight issues’ at NY’s Home Loan bank; new tool IDs ‘CDFI deserts’
The Federal Home Loan Bank of New York paid its departing director of diversity and inclusion $561,600 after an external review found “oversight issues” that led to a shake-up of the bank’s human resources department; CDFI Friendly America launches an online mapping system to spotlight growth opportunities nationwide; global law firm A&O Shearman expands its […]
NPD mega-breach a sobering reminder of vulnerability of identity data
Social Security numbers are a dime a dozen on the black market, so cybercriminals are going after bigger and more sophisticated databases.
How Charlie Financial is protecting elders from payment fraud
Most financial institutions are seeking ways to speed up payments, but one neobank is looking to slow them down to protect a segment of the population frequently targeted by scams.
Harris has big ambitions — but few details — for housing supply
Vice President Kamala Harris’s pledge to deliver 3 million homes has drawn applause from homebuilders, lenders and affordability advocates, but experts are uncertain how her administration would pull it off.
Senate Banking Committee facing uncertain future
Committee Chair Sherrod Brown is facing a tough election.
Fed’s Powell: ‘The time has come for policy to adjust’
In his speech at the Federal Reserve’s Jackson Hole Economic Symposium, the Fed chair said employment losses are now a bigger risk than elevated inflation.
How banks are boosting the eco-friendly cards movement
Bank of America, Citigroup, HSBC and others are increasingly using sustainable and recycled materials for manufacturing
Banks want liability risk clarified in CFPB open banking rule
Banks are concerned about the lack of clarity regarding legal liability in the Consumer Financial Protection Bureau’s open banking rule, and fear that they will end up on the hook for data breaches or unauthorized transactions caused by a fintech or data provider.
Harris nomination puts Home Loan bank consolidation back on the table
The Federal Home Loan banks must be looking at the shift in presidential polling with alarm. A Democratic victory would open the door to tougher regulation and potential streamlining of the 11-bank system.