Disclosures show CFPB pick’s ties to several regulated firms
President Trump’s nominee to lead the Consumer Financial Protection Bureau disclosed that he’s been paid by numerous financial firms regulated by the agency he is expected to lead.
Why young Americans aren’t relying on homes to build wealth
Millennial and Gen Z Americans aren’t investing in homes the same way as previous generations: The National Association of Realtors found the median age of first-time buyers last year was 40, an all time high. Here’s what wealth advisors need to know.
Inside Upstart’s journey to get a bank charter approval
The OCC conditionally approved the lender’s de novo application. Upstart Bank’s proposed CEO spoke with American Banker about the review process.
Large drop in new defaults may signal reprieve for servicers
The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
How Wise’s OCC rejection creates demand for bank AML experts
The regulator cited anti-money-laundering deficiencies in its decision, signaling the government is keeping a close eye on the issue even in a broader deregulatory environment. That means fintechs will be recruiting compliance experts from banks.
‘We can unlock those assets’: Kara Kennedy
The global co-head of J.P. Morgan’s blockchain business unit says the financial services industry will be “replatformed.”
Flagstar’s turnaround shows progress, but also hits bumps
The Long Island-based regional bank gave investors a mix of good news and bad news on Friday, as it continues its strategic overhaul.
PrimeLending cuts $10M fixed costs as margins squeeze
The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
GOP fraud plan: more tools for banks, no scam liability
The House Financial Services Committee’s Republican majority backed slower funds availability and declined to shift authorized-scam losses onto banks.
BNY and Nubank CEOs join OpenAI board, shake-up at Old National
BNY’s Robin Vince and Nubank’s David Velez have joined the boards of the OpenAI Foundation and OpenAI Group Public Benefit Corporation; Old National Bancorp has revamped its top leadership teams; City National Bank appointed Lindsay Dunn executive vice president and head of personal and business banking; and more in this week’s banking news roundup.