Durbin adds new bipartisan sponsors to credit card bill ahead of hearing
Sens. Dick Durbin, D-Ill., and Roger Marshall, R-Kansas, have added Sens. Josh Hawley, R-Mo., and Jack Reed, D-R.I., as cosponsors to a bill aimed at increasing credit card competition and lowering consumer fees.
Upstart’s stock slumps again amid funding questions
The lending fintech is increasing its reliance on third-party funding arrangements as its revenue slides. Analysts are wondering how much risk is embedded in the deals.
Among this year’s Super Bowl ads, a surprise from Jovia Financial
The $4.4 billion-asset institution’s 30-second commercial on Sunday sought to promote the idea of financial wellness as integral to “not-for-profit” banking and boost new member growth.
Heartland Financial strikes deals to unload Montana branches
In all, the Denver-based bank plans to sell nine branches to two buyers as part of a decision to exit the state and invest more in technology and other markets where “it has the greatest growth potential.”
New York Community’s troubles are putting a stigma on fast growth
Like the three regional banks that failed last spring, New York Community grew quickly over a short period of time. One analyst said there’s now “permanent damage” to the “investor psyche around growth banks.”
Freddie Mac’s profits rise with steadying home price growth
The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.
ICE claims to have 90% of property listing data
Between a new partnership with REdistribute and two other agreements, the mortgage technology company says it has access to over 90% of property listing data.
As U.S. nears ‘soft landing,’ we must help guide others out of the storm
The global debt crisis requires sustained attention from leaders and institutions in the U.S. Failure to address it will doom untold millions of people to suffering.
Pam Habner of Citi on her career in banking: The Climb
Pam Habner, head of U.S. branded cards and lending at Citi, talks about what drew her to financial services and how to keep women in the game.
India’s CBDC project gets larger, Visa/Mastercard expand in Egypt
The major U.S. card networks are pursuing financial inclusion in Egypt, the Reserve Bank of India works to bring central bank digital currencies to more users, and other news in this week’s global roundup.