Western Union CEO: ICE raids, tariffs no threat to Intermex deal
Analysts said trade war-related issues are pressuring the U.S./Mexico remittance corridor, lowering the value of the acquisition. Devin McGranahan told American Banker Intermex’s technology and footprint provide a path for future expansion.
FTC warns of alarming surge in scams that target seniors
Federal Trade Commission data shows scam losses for adults 60+ have skyrocketed, with banks under pressure to strengthen protections.
Fed’s Bowman says jobs data solidifies case for rate cuts
Federal Reserve Vice Chair for Supervision Michelle Bowman said she foresees three interest rate cuts for this year, a view bolstered by the latest employment data.
Banc of California boosts L.A. businesses with $1M donation
As the city slowly recovers from January’s wildfires, Banc of California is working with a local nonprofit group to help small businesses bounce back.
Senate Banking Dems want regulators to delay eSLR
In a letter led by Senator Elizabeth Warren, D-Mass., all Democratic members of the Senate Banking Committee asked Trump-appointed regulators to extend their consideration of public comment on the proposal to reduce a capital requirement on megabanks, citing insufficient rationale for the change and the potential systemic risks the change could introduce
Could a Ph.D. program have changed the history of junk bonds in the US?
Junk bonds made Michael Milken the most important and richest person on Wall Street. But they caused many large thrifts to fail. Had he listened to his professors and pursued his Ph.D. in 1970, his legacy might have been different.
These five regionals could be sellers. The reasons vary.
As regional bank consolidation heats up, Comerica, First Horizon and Banc of California are among the institutions that analysts see as the most likely targets for takeovers.
CFPB proposes a rule change to cut nonbank supervision
The Consumer Financial Protection Bureau has proposed reducing supervision of all but the largest nonbanks in four key markets: auto financing, consumer credit reporting, debt collection and international money transfers.
CFPB to hold Synapse responsible for missing customer funds
The Consumer Financial Protection Bureau has been investigating the failed banking-as-a-service fintech and is preparing to file a complaint accusing it of unfair acts or practices.
Chime reports first earnings since IPO
Revenues were up for the quarter, but stock compensation-related expenses brought the neobank to a negative net income.