A Connecticut bank partners up to boost small business lending
New Canaan-based Bankwell’s digital solution relies on software designed by Lendio to compress the application-to-funding interval and appeal to speed-conscious small business owners
Joint Press Release: Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Helene
JOINT PRESS RELEASE | OCTOBER 2, 2024 Federal Deposit Insurance CorporationFederal Reserve BoardNational Credit Union AdministrationOffice of the Comptroller of the CurrencyState Financial Regulators________________________________________________________________ Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Helene The Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union […]
Illinois’ interchange fee law sets a dangerous precedent
The state’s ill-conceived law banning interchange fees on sales tax and gratuities will be burdensome and expensive to implement and could portend a patchwork of state-level copycat legislation that would balkanize the payments system.
Apollo Global Management CEO warns aggressive rate cuts could backfire
Marc Rowan said he doesn’t see a reason for the Federal Reserve to keep cutting interest rates to stimulate the U.S. economy.
Why Amerant is doubling down on its Florida home base
The Miami-area bank long ago exited New York and has plans to leave Texas, as CEO Jerry Plush expands its footprint in the Sunshine State. The shift comes as the bank, which competes in Florida with many out-of-state banks, is set to cross $10 billion of assets.
20 credit unions with largest portfolios of first mortgage loans
The top five credit unions have combined first mortgage loans and lines of credit of more than $104 billion as of June 30.
‘A house is more than just an asset’: Walz and Vance clash in VP debate
In their only vice presidential debate, Democratic vice presidential nominee and Minnesota Gov. Tim Walz talked at length about how housing should not be considered a “commodity,” while Republican vice presidential nominee Sen. J.D. Vance, R-Ohio, tied housing shortages to immigration.
Citi freed from an 11-year-old Fed enforcement action
The Federal Reserve has lifted a 2013 order relating to anti-money-laundering compliance issues, including in the megabank’s now-defunct Banamex USA unit.
Why banks aren’t ready for ISO 20022
The payment protocol, years in the making, includes more information for transactions, aiding real-time processing, international commerce, risk management and overall accuracy. But it also requires a lot of work.
NIST: Longer passwords beat complicated ones
Password requirements are often needlessly complex, according to the government’s standards-setting body, which can undermine cybersecurity.