The Consumer Financial Protection Bureau's overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy credit and higher defaults and could disproportionately harm minorities.
The San Francisco fintech, which is buying Radius Bancorp, will discontinue peer-to-peer lending and instead offer new products, like high-yield savings accounts, to its retail investors.
Jane Fraser, who in February will become the first female CEO of a Wall Street bank, said during a Women in Banking event hosted by American Banker that she will be “the first of many, many more” to come.
The regulator found that the financial services company failed to take precautions in disposing of hardware that contained sensitive customer information.
Television executive Ryan Glover, rap star Killer Mike and civil rights icon Andrew Young have launched a digital bank for Black and Hispanic consumers called Greenwood Financial.
Federal Reserve Bank of Boston President Eric Rosengren said the long period of low interest rates before the coronavirus pandemic is contributing to the depth of the current recession.
Deferrals may be hiding credit issues, leading lenders to track deposit flows, property maintenance and other factors to gauge the true health of their portfolios.
