As a new crypto lender, Nexo, launches Monday, the fintechs that lend money to people based on the digital currency they own say they’re doing well even when cryptocurrency values plummet.
Vice chairman set to leave agency on Monday; big regionals are caught in the middle, losing share to both the biggest national banks and community institutions.
Since taking office in November of last year, acting Consumer Financial Protection Bureau Director Mick Mulvaney's actions have sparked outrage seemingly at every turn, including several times just last week.
The U.S. subsidiary of the Spanish banking giant BBVA said Friday that direct consumer loans increased 40% in the first quarter and that its digital strategy is bearing fruit.
The outgoing No. 2 of the Federal Deposit Insurance Corp. and the agency's former chair say the proposed changes would increase the likelihood of another financial crisis.
Borrowers can get better rates elsewhere, so they're repaying ahead of schedule, leaving banks in the lurch. The steps lenders would have to take to keep the business could be prohibitively expensive.
In addition to changing the name of the Consumer Financial Protection Bureau, the acting director wants to also nix public complaints; the good, bad and ugly in Zelle's ascendance; a case study for digital outage recovery; and more from this week's most-read stories.
FDIC Vice Chairman Thomas Hoenig has been a tough critic of risky practices by big banks and a key voice among federal regulators in support of stronger capital requirements.
