Shareholders in Subchapter S corporations will get some tax relief of their own under a new Treasury Department rule that will let them take a 20% deduction on qualified business income, which includes loan originations and sales.
Despite recent chatter about a delay, there’s reason to believe the Current Expected Credit Losses accounting standard will go into effect next year. Regulators should do more to help smaller institutions prepare.
Steve Boms, executive director of the Financial Data and Technology Association, says open banking standards are needed for U.S. banks and fintechs to follow.
Absent some policy change, nearly a third of the loans backed by Fannie Mae and Freddie Mac could be in violation of the Consumer Financial Protection Bureau's Qualified Mortgage rule in two years.
Facebook is inching closer to threatening traditional processors and financial institutions with its own digital currency by adding staff with expertise in the underlying technology.
