Stephen Ranzini, CEO of University Bank, says The Clearing House's RTP and Early Warning's Zelle handle enrollment, encryption and authentication insecurely.
The 2020 elections and a potential new chair of the Senate Banking Committee in the next Congress could put a deadline on passage of a bill to ease a key anti-money-laundering requirement for banks.
The Small Business Administration has told lawmakers it can reinvigorate its streamlined guarantee program by nearly tripling the maximum loan size. So far, Congress has been mum on the idea.
Loan limits for most mortgages Fannie Mae and Freddie Mac buy will exceed $500,000 for the first time ever next year, and the maximum for most high-cost areas will be $765,000.
USAA won $200M from Wells Fargo in patent fight — will others be on the hook?; three takeaways from regulators' approval of the BB&T-SunTrust merger; don't believe the doom and gloom on Fannie, Freddie; and more from this week's most-read stories.
The fintech firm, which had made prior attempts to offer a federally insured consumer account product, said it has “no plans at this time” to become a bank.
Many lenders are establishing a firm bottom on variable interest rates amid intense competition for commercial credits, rising deposit costs and the possibility that the Fed could take rates to unprecedented lows.
