Is portability the cure to the mortgage market’s woes?
In Canada and the U.K., borrowers can take mortgages with them from home to home. Some say this feature could unlock the U.S. housing market, but others say it would be more trouble than it’s worth.
Press Release: FDIC Makes Public October Enforcement Actions-No Administrative Hearings Scheduled For December 2023
PRESS RELEASE | NOVEMBER 24, 2023 FDIC Makes Public October Enforcement ActionsNo Administrative Hearings Scheduled For December 2023 WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in October 2023. There are no administrative hearings scheduled for December 2023. The FDIC […]
More competition — not interest rate caps — help the working class
Capping interest rates may be popular with consumers, and ultimately voters, but doing so would actually hurt those advocates are trying to help.
Capping interest rates would end destructive cycles of debt
A national interest rate cap of 36% would protect consumers from predatory practices that exploit their desperation and would level the playing field with responsible lenders who offer fair and transparent products.
How foster youth become financially forgotten
Young adults exiting the foster care system often lack the documents and relationships they need to engage with financial products early on. Some advocates, including many in the Texas Legislature, are working to change that.
Inside the mind of Sam Bankman-Fried
Michael Lewis takes a more sympathetic approach than many other observers to the former CEO of the crypto exchange FTX in his latest book, “Going Infinite.”
How credit union leaders are embracing chatbots, AI and other new tech
Honorees on this year’s list of the Most Powerful Women in credit unions have adopted tools powered by AI to help provide 24/7 support to members in a variety of languages, while also expanding access to vital capital for those from underserved communities.
Wells Fargo invests in Black businesses, American Express promotes small businesses
Wells Fargo makes a $1.5 million investment in Black entrepreneurship; America Express promotes small businesses through augmented reality; Italy starts sale of Paschi; and more in the weekly banking news roundup.
Fintechs lost their edge in consumer lending in 2023: Fed report
Record-high rates and the questionable future of credit performance put pressure on fintechs whose bread and butter was lending to low- and moderate-income folks.
Why fewer women are leading large U.S. banks
The number of women CEOs at top-50 banks will soon fall to one with the departure of Kelly Coffey from the top job at City National Bank. The recent trend line shines a light on the industry’s shallow bench of women in C-suite roles.