BankThink

Fannie and Freddie pushing COVID refi fee to December

08/25/20

The mortgage giants were criticized earlier this month for a plan to charge an "adverse market fee" to protect against losses resulting from the pandemic.

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ConsenSys acquires JPMorgan’s Quorum blockchain technology

08/25/20

The bank will outsource future development of Quorum to the software firm.

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CFPB seeks comment on impact of credit card rules

08/25/20

The agency solicited input on the effects of the CARD Act regulations as part of a statutory requirement that the bureau review policies 10 years after they are implemented.

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Mike Cagney launches blockchain for loan trading. Will banks go for it?

08/25/20

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

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Ally expanding into retail point-of-sale lending

08/25/20

The company will offer retail installment loans up to $40,000 through a partnership with Mastercard's Vyze unit.

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Kasasa rolls out mortgage offering for credit unions

08/25/20

The product, which is also aimed at community banks, includes a "take-back" option that allows consumers to withdraw extra funds they've paid that go beyond their monthly scheduled mortgage payment.

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FDIC's quarterly report shows extent of pandemic's hit to bank profits

08/25/20

The $18.8 billion in net income was 70% less than a year earlier as the uncertain economic picture and new accounting rules drove a sharp rise in provisions for future losses.

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The latest postal banking plan gets it wrong again

08/25/20

If Congress wants to provide better access to banking services for low-income and rural Americans, they would be wise to consider financial services partners that operate as a not-for-profit model.

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Credit unions aim to resume bank-buying spree

08/25/20

Whether the number of deals for 2020 can come close to last year's record-setting level will come down to one question: Can community banks generate strong enough profits in the second half to justify their independence?

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Citigroup cites $900 million human error. Lenders are puzzled.

08/25/20

The bank — which said it has been upgrading its loan operations platform after a review it undertook last year — said it mistakenly transmitted the payments after an employee didn't manually select the correct system options in its loan operation software.

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