Are big bank deals back? What Trump could mean for M&A
During Donald Trump’s last presidency, the massive merger that created Truist shook up the industry. What’s coming this time around?
Block’s stock tanks after revenue miss
The payments company’s third-quarter results came in $250 million below Wall Street’s expectations, disappointing investors.
Citizens to pair AI agents with automation to improve productivity
AI agents can help route tasks and make decisions along the way, but a human in the loop will still be needed to ensure effectiveness.
Powell says he won’t step down and Trump can’t make him
The Federal Reserve’s top official was emphatic that he and other leaders on the Board of Governors cannot be dismissed or demoted at will by the president.
CFPB sanctions Navy Federal for improper overdraft fees
The giant, Vienna, Virginia-based credit union will pay tens of millions of dollars in refunds and fees for overdraft practices its federal regulator labeled “deceptive and unfair.”
Judge approves TD Bank plea deal, including five years of probation
The plea agreement, which includes a fine of more than $1.4 billion, penalizes TD for systemic money laundering violations. “We have the ability to profit, and we should be able to profit, but not at the expense of the law,” said U.S. District Judge Esther Salas.
FICO confirms price hike for 2025
FICO’s wholesale royalty will be $4.95 per score for mortgage originations, it announced. That’s up from $3.25, which is the current cost of a mortgage credit score.
Fintechs need to be more proactive about regulatory compliance
The Synapse failure and recent enforcement actions make it clear that fintechs need to up their regulatory compliance game. At the same time, they have an opportunity to help shape future rules.
Changes coming to the Fed in a Trump presidency
At a minimum, president-elect Donald Trump can make two appointments to the Federal Reserve Board of Governors and choose new leadership. But more substantial changes could be in the offing.
Guild Mortgage takes earnings hit from servicing portfolio
Value adjustments to Guild’s MSRs totaled a loss of $145.8 million, the nonbanks third quarter earnings show.