JPMorgan Chase, Nyca invest in AI-testing firm FairPlay
The company, whose software tests AI-based lending models for bias and fairness, is receiving $10 million.
Press Release: FDIC Makes Public January Enforcement Actions
PRESS RELEASE | FEBRUARY 28, 2025 FDIC Makes Public January Enforcement Actions WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in January 2025. There are no administrative hearings scheduled for March 2025. The FDIC issued 12 orders and one adjudicated Decision […]
Small inflation uptick leaves Fed waiting for signal to move
The Federal Reserve’s preferred inflation index showed little progress toward its target of 2%, increasing the likelihood of a prolonged rate pause.
How the FHLbank System’s regulatory direction could shift
Ryan Donovan, the Council of Federal Home Loan Banks’ CEO, foresees affordable housing mandates becoming more focused on home supply than demand.
Study: Curbing credit union tax status would hike prices
A study sponsored by America’s Credit Unions finds that removing credit unions’ tax-exempt status could raise consumer costs by $234.6 billion over 10 years, hurt GDP and result in job losses.
KeyBank partners with Treasury Prime for embedded banking
As KeyBank grows its fintech partnership strategy, Treasury Prime is bringing KeyBank’s products into its network of banks and fintechs.
CFPB dismisses Rocket, Vanderbilt Mortgage lawsuits
Housing finance players accused of wronging consumers slammed the lawsuits as politically motivated efforts by former Biden-era bureau director Rohit Chopra.
Betterment buys Ellevest’s automated investment arm
The largest independent digital investment advisor in the U.S. is buying the automated investing arm of the woman-focused company.
CFPB drops lawsuit against Capital One
The Consumer Financial Protection Bureau voluntarily dismissed a lawsuit against Capital One brought under the Biden administration alleging the bank failed to honor interest rate promises, costing consumers an estimated $2 billion.
RBC raises loss provision amid concern over U.S. tariffs
Canada’s largest bank is bracing for the impact of a threatened U.S. 25% tariff on imports from north of the border. But the cloudy 2025 outlook was offset by strong results last quarter.