Cyberattack against Santander shines a spotlight on supply chain breaches
Criminals breached a third-party database storing Santander customer and employee information, a type of intrusion that banks are increasingly facing.
Fed’s Barr renews focus on liquidity, long-term debt amidst slate of pending reforms
Federal Reserve Vice Chair Michael Barr Monday spoke at length about efforts to enhance banks’ liquidity and long-term debt positions after last year’s bank failures while saying little about the capital hikes detailed in the embattled interagency Basel III endgame proposal.
SouthState goes big in Texas, striking $2 billion deal for Independent
The Florida-based bank, which has been building out its footprint across the South, would enter major markets such as Dallas and Houston with its planned all-stock acquisition of Independent Bank Group.
RESPA, HMDA violation fines hit Arkansas’ Bank of England
Originators misled VA refinance applicants into believing they could skip two months of mortgage payments, the Federal Deposit Insurance Corporation said.
Ginnie Mae to allow pooled eNote, paper securitizations
The announcement, made at the Mortgage Bankers Association’s Secondary Markets Conference, underscores Ginnie Mae’s role at the forefront of digitization efforts in the capital markets space.
Bank failures, new CFPB rules and other issues facing investors
Investors are facing recent pressure after Republic First’s collapse, allegations of criminal activity by an executive at Old National and a pending CFPB rule affecting credit card fees.
What’s holding back cryptocurrency payments?
Regulation and other factors are creating friction for the banks and consumers that want to transact in crypto.
Arizona credit union buying bank to expand in Phoenix
Pima Federal Credit Union in Tucson plans to buy Republic Bank of Arizona in a cash transaction slated to close in the second half of this year. It’s the ninth deal in 2024 in which a whole bank would sell itself to a credit union.
Bank regulation package approved by House panel
The House Financial Services Committee passed eleven bills, including a Democratic-sponsored bill on homeless veteran housing and a Republican-led package on bank regulation.
Alternative credit metrics are poised to revolutionize underwriting
Gaps in traditional means of assessing creditworthiness are being filled by new kinds of information, such as cash flow data. The result will be good for both banks and borrowers.