Mark Calabria on how to make the housing market healthy again
The former Trump-appointed Federal Housing Finance Agency head offers insights on the road ahead for mortgage lenders and residential real estate at large.
Financial fragility is worst in decade for households, N.Y. Fed says
Only 65.8% of surveyed households said they would be able to come up with $2,000 if an unexpected need arose within the next month, according to the NY Fed’s latest survey of consumer expectations and credit access,
Instant-payment pioneer to hire 230 in the U.S. to serve banks
Brazilian Orli Machado plans to hire about 230 people in the U.S. to expand his firm, which provides software to banks and credit unions offering the Federal Reserve’s new instant-payment system.
Like it or not, big changes are coming for the Federal Home Loan banks
The Federal Housing Finance Agency’s report on the system at 100 years old signals major shifts in both policy and structure are on the horizon.
How Ripple is trying to reach new audiences
The blockchain company is targeting non-financial clients and new geographic regions in a series of product rollouts.
VA calls on servicers to suspend foreclosures through May
News reports of the negative impact to borrowers from the partial claims program’s discontinuation, and a letter from Senate Democrats, appear to have prompted the statement.
Citi managing director accuses ex-bosses of assault, harassment
In a lawsuit, Ardith Lindsey claimed that, despite cultivating a gender-inclusive public image, the bank knowingly tolerated a “locker room” environment.
‘Unprecedented’: Banks’ lobbying blitz against capital rules
The financial services industry has run TV ads during football games and organized lobbying visits by small-business owners in its fight against the Basel III endgame plan to raise capital requirements for larger lenders. The tactics are beginning to show signs of working.
‘Just the beginning’: Two Wells Fargo branches file for union election
Unions have historically had little success organizing bank employees, but recent high-profile gains for the labor movement have fueled hopes that will change. The two elections at Wells Fargo will be a test.
CFPB hits Toyota Motor Credit with $60 million enforcement action
Toyota’s auto finance arm allegedly delayed customer refunds and provided false information to credit-reporting companies. The company must pay $48 million to compensate consumers, plus a $12 million fine.