Bank apps share too much data: Consumer Reports
The consumer nonprofit reviewed 10 banking apps and flagged that transparency and inclusivity practices on the financial institutions’ websites don’t always carry over to the mobile apps.
Biden’s speech elicits mixed reaction from housing industry
Regulatory reform – rather than Biden’s proposed solutions – is needed to fix the inventory crisis, some say, but others applauded the president’s buyer cost-cutting initiatives.
PayPal adds support for iPhone payments, BNY Mellon’s Regelman exits
PayPal expands Tap to Pay for iPhone payments; BNY Mellon’s securities services leader exits; FleetCor rebrands as Corpay; and more in this week’s banking news roundup.
What former FHFA Director Mark Calabria foresees for housing
Here’s how the former regulator thinks Fannie Mae and Freddie Mac could exit conservatorship and where he sees the residential market headed this year and next.
Fed finalizes risk management rule for ‘financial market utilities’
The rule updates requirements for how systemically important clearing networks prepare for and respond to operational risks.
One year after SVB’s collapse, it’s time to reform banker pay
Bipartisan legislation is ready for consideration in the Senate, but even if that fails, regulators have the tools they need to rein in excessive risk taking.
Mastercard, Dwolla using open banking to pursue separate markets
In unrelated initiatives, the two companies are extending their use of open banking to create deeper client relationships.
Biden nods to ‘junk fee’ rule, housing in State of the Union
In his State of the Union address, President Joe Biden touted the Consumer Financial Protection Bureau’s credit card late fee rule, which has sparked litigation from banking groups, and a raft of housing policy initiatives.
NYCB’s $1 billion infusion restored confidence. Now what’s the plan?
The Long Island bank plans to balance its loan mix and fix its risk controls. But following a large capital injection led by two former Trump administration officials, the new leadership is asking for more time to formulate its strategy.
Chamber, bank trade groups sue the CFPB over credit card late fee rule
The lawsuit against the Consumer Financial Protection Bureau was filed just two days after the bureau finalized a rule to cut credit card late fees to $8 from $32.