The insurance giant said it would need to make a “significant additional investment” to gain scale and be competitive. It has hired an investment banker to help it unload deposits and loans.
More than 1 million jobs will be lost to AI by 2030, according to one estimate. But new jobs are also being created. Are banks and their employees ready?
Auto lenders would be well advised to keep up their guard as states — particularly blue ones — take steps of their own to crack down on what they see as abusive practices.
Tax reform and the need for new, tech-savvy banks to compete with fintechs are high on a growing list of factors encouraging investors to gamble on banking startups.
The group made its plea in a petition, signed by over 10,000 community bank employees, urging lawmakers to quickly move a bill rather than subject the process to "further delay or inaction."
Freddie Mac has quietly started extending credit to nonbanks that issue mortgages, a move it says will help the companies maintain access to a crucial stockpile of cash if their home loans go sour.
