Moelis submits a revised Fannie/Freddie blueprint; FASB considering a plan to have banks break out charge-offs and recoveries on year-by-year basis; Wells Fargo layoffs begin with 1,000 jobs in mortgage and tech; and more from this week's most-read stories.
The Omidyar Network has invested in five challenger banks. Tilman Ehrbeck, who is leading its financial inclusion efforts, says the firm will invest more in apps for gig workers and retirees next year.
Adults ages 18 to 29 may have a hard time getting a mortgage, but they are not shying away from other forms of consumer debt, according to a report by the New York Fed.
As regulators get set to unveil a new capital ratio for community banks, FDIC Chairman Jelena McWilliams said she wants to go even further to simplify the capital regime.
The Justice Department is seeking information about potential transactions the banks may have handled for a small Danske branch in Estonia that’s at the center of one of the biggest money-laundering investigations in history, according to two people familiar with the matter.
The Trump administration should consider putting much of the subsidized mortgage lending done by the federal government under the government-sponsored enterprises to improve efficiency and transparency.
