The Navy Federal discrimination case should be a lesson for banks
The country’s largest credit union is learning the hard way that failure to assure inclusivity in lending practices is a recipe for both financial and reputational damage.
Can banks benefit from the DoJ’s pressure on Apple Pay?
A potential antitrust lawsuit may open iPhones to outside payment apps. But any bank that seeks to profit from the Department of Justice’s moves will face a host of other challenges.
How rising rates have hampered minority banks’ quest for more deposits
After being undercapitalized for decades, some minority-led banks finally got large capital infusions in the wake of George Floyd’s murder. But higher interest rates have made it harder for them to gather the deposits they need to boost lending substantially.
Ent Credit Union’s new approach to training: virtual reality
The Colorado-based institution is overhauling its training procedures by using simulated VR experiences to prepare new member service representatives for their roles without the stress of serving live customers while supervisors watch.
Mr. Cooper taps veteran banking exec as president
Mike Weinbach, a former Wells Fargo and JPMorgan leader, will replace president Chris Marshall who’s expected to retire at the end of this year.
Regulators will take comments on Basel III endgame impact analysis
Federal Reserve Vice Chair for Supervision Michael Barr said feedback received will be incorporated into the final version of the capital reform rule.
Advisory firm launches platform for banks to sell loans quickly
Clark Street Capital said it developed a service to pair sellers with multiple potential buyers within just two weeks. It’s meant to help small lenders close deals fast while still getting the benefits of a bidding process.
Blockchain could be a transformative technology. It’s just not money.
An initiative in Baltimore to use blockchain tech to track and manage vacant properties is a prime example of how blockchain can help solve stubborn problems, even if it isn’t ready to revolutionize the fundamentals of commerce.
Why Elon Musk’s X narrowed its focus to peer-to-peer payments
Scrambling to generate revenue, the social media app sees P2P payments as the easiest way to offer its vast base of enrolled consumers other financial services.
20 banks and thrifts with the largest home equity loan portfolios
The top five banks and thrifts have nearly $96 billion in combined home equity loan portfolios as of September 30, 2023.