Goldman ditches robo-investing for masses in sale to Betterment
While the deal price is expected to be immaterial, it’s another piece of the consumer empire Goldman once dreamed of that the bank is now scaling back.
Bank regulation has not kept pace with global financial crime
With financial crime surging worldwide, it is critical that the public and private sectors align on a shared vision to collectively focus on combating bad actors and to eliminate their ability to launder the proceeds of criminal activity.
Despite exemption, small banks still feel effect of CFPB overdraft rule
While banks with less than $10 billion of total assets would not be forced to comply with the $14 cap, many would adopt it or make other changes to stay competitive with larger banks, survey finds.
Four hurdles for bank buyers to clear
As recently as a few months ago, many observers predicted a surge of bank mergers this year. But longtime obstacles to dealmaking are still there and have been joined by new ones.
Ohio banks say ‘Howdy’ to commercial loan opportunities in Texas
At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
Capital One and Discover walked away from talks before reaching a deal
New details have emerged about the negotiations that culminated in Capital One’s blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
Fed report: Inflation, policy uncertainty top financial stability concerns
According to the Federal Reserve Board’s latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks, with survey respondents expressing heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
Credit, check fraud costs weigh on Regions’ earnings
The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
Ginnie Mae President Alanna McCargo to retire
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
Why private capital should be allowed to provide liquidity to Ginnie Mae servicers
Banks and other private lenders could help ease the liquidity crisis facing some companies that service Ginnie Mae mortgages, but are currently prevented from doing so by the agency’s rules. A simple fix would benefit everyone involved.