Mortgage rates edging closer to the 7% mark
Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.
Policy uncertainty creates an invisible ‘tax’ on capital formation
Banks can price in risk and manage their way around both left-wing and right-wing administrations. But the kind of uncertainty that arises from today’s brand of politics is impossible to model.
Augustus raises $180M as it builds out a de novo bank
The company, which has conditional approval for a bank charter, hit a $1 billion valuation with fintech exec backing from firms such as Nubank and Revolut.
AI, sometimes, is even smarter than we think it is
An OpenAI program managed to escape its sandbox, go out on the web and find another AI platform, and hack it. Not even OpenAI expected that.
OpenAI models’ Hugging Face breach is a red flag for bankers
The intrusion did not affect the financial industry directly. But it presents a warning to banks that are deploying agentic AI.
Visa’s World Cup sponsorship pays off ahead of earnings
The payment network, which posts second-quarter results next week, noted localized boosts in payment volume near match sites in cities such as Boston, New York and Guadalajara.
Northern Trust joins banks lifted by IPOs, capital markets
Like many of its peers, the Chicago-based custody bank posted strong results thanks partly to the downstream effects of a strong initial-public-offering market.
Banks see $68 billion in scam losses Washington misses
Only 13% of scams reach federal agencies. The rest land at banks and payment apps, making them the country’s de facto scam-reporting system.
SEC reporting overhaul draws mixed reviews
A Securities and Exchange Commission proposal to change reporting requirements for public companies has drawn mixed reactions, with some groups warning that reduced transparency could harm markets.
Santander still confident Webster deal will close this year
Following a recent approval by the European Central Bank, Banco Santander’s pending acquisition of Webster Financial is expected to close before the end of 2026, executives said. There’s been concern that the deal could get tangled up in tensions between the U.S. and Spain.