The Justice Department is investigating the bank for possible money laundering violations; the Fed chair says Facebook’s plan raises “serious concerns.”
The neobank, which has 3.5 million European customers, is starting with fee-free checking, a debit card and real-time transactions. It's part of a wave of competition arriving from overseas.
Beginning next year, banks will have to dramatically change the way they account for future credit losses, but experts disagree on the new rule's long-term impact.
Beginning next year, banks will have to dramatically change the way they account for future credit losses, but experts disagree on the new rule's long-term impact.
Past due home equity loans and credit lines rose while most other consumer lending categories held steady or improved, according to new data from the ABA. Why it happened is a bit of a mystery.
