Bets on a September Fed cut help reduce mortgage rates
Positive signs on jobs and inflation help drive the 10-year Treasury yield lower, and lead investors to forecast a short-term rate cut sooner than later, Freddie Mac said.
Appeals court delivers big win to CFPB in Townstone redlining case
A federal appeals court ruled that the Equal Credit Opportunity Act prohibits not just outright discrimination but also the discouragement of prospective applicants for credit.
Effort to overturn Biden veto on crypto banking rule SAB 121 fails
The House didn’t meet the two-thirds threshold needed to overturn President Joe Biden’s veto of a resolution nullifying staff accounting bulletin 121, which requires that banks hold cryptocurrency held in custody on their balance sheet as liabilities.
This fintech launched weeks after Synapse failed. Its CEO is undaunted.
Evergreen Money offers affluent savers both high returns and ready access to their money. The startup’s founder, former PayPal CEO Bill Harris, says that increased regulatory scrutiny of bank-fintech partnerships is a positive development.
Patelco faces multiple lawsuits over ransomware attack
The four lawsuits allege that attackers stole members’ Social Security numbers, among other data. Patelco has not yet confirmed whether any data was stolen.
Why bank stocks may struggle to muster more momentum
Higher funding costs, lower loan demand and the potential for increased credit costs continue to drag on the sector heading into second-quarter earnings season.
FDIC nominee Goldsmith Romero: Basel reproposal ‘on the table’
President Joe Biden’s nominee to lead the Federal Deposit Insurance Corp. signaled openness to withdrawing and resubmitting the Basel III rule.
Apple’s EU concessions create payments opportunity for Samsung, Curve
The American tech giant’s agreement to open up to other firms may give other tech firms the chance they need to offer an updated mobile wallet.
Basel endgame supporters need a litigation strategy of their own
The banking industry is using the threat of lawsuits to push regulators toward a less stringent final rule on capital. Those in favor of tougher rules should fight fire with fire.
20 community banks with the largest first mortgage loan portfolios
The top five community banks have combined first mortgage loans of more than $2.8 billion as of March 31, 2024.