News Topic: Fintech

Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its ... Read full article

The agency says it will act independently of other regulators to release a notice asking for public input on revamping the decades-old law. ... Read full article

An OCC charter for fintechs requires firms to meet a “financial inclusion” standard instead of conventional Community Reinvestment Act requirements. That’s a problem. ... Read full article

Thibault Fulconis recently became CFO of the digital banking venture Varo Money, which has applied for a national bank charter. ... Read full article

Theodora Lau and Brad Leimer of Unconventional Ventures, Heather Holmes of Genivity and Marci Lobel-Esrig of SilverBills discuss fintech for older generations. ... Read full article

To compete with fintech startups, banks need to find more ways to use the mountains of data already at their disposal. ... Read full article

Citigroup was so impressed after a two-year test drive of software from the AI vendor Anaconda it decided to invest in the firm. ... Read full article

Rep. Emanuel Cleaver, D-Mo., released a survey of lending practices that he said point to practices such as forced arbitration clauses and extracting a customer’s credit score to determine creditworthiness. ... Read full article

The bank is working with SpringFour and Genivity, two graduates of its mentorship program, and plans more such partnerships. ... Read full article

Readers respond to how the industry is donating ahead of the midterms, weigh in on a push to apply CRA-like standards to fintechs, react to a controversial decision by a California court and more. ... Read full article

IBM claims that by monitoring customer behavior first and foremost, banks can make suspicious activity reporting far more accurate. ... Read full article

The Community Reinvestment Act can lower — not increase — bank credit availability in some low-income regions, and the OCC should reconsider holding fintechs to the same standards with its new charter. ... Read full article

Happy Money and Arcus have joined a pack of fintechs and online lenders urging customers to forego expensive credit card debt, in this case calling it a "sad spend." ... Read full article

Legacy tech vendors have traditionally offered decadelong contracts. But given constant change in the industry, small banks today should push for three-year deals, a bank CEO says. ... Read full article

Anand Selva, a long-time Asia hand, will head up U.S. consumer banking; several startups are backed by traditional card issuer veterans. ... Read full article

Capital One's dispute with Plaid raised questions about the ability of banks and aggregators to work together. But the end of that fight, and Capital One's deal with Finicity, show common ground can be reached — eventually. ... Read full article

The Trump administration's stance on immigration is causing headaches for some banks, how a tiny black-owned bank is turning to fintech to turn itself around; why banks are rejecting Facebook's offer to share data and more from this week's ... Read full article

The agency’s move to offer a national charter for fintech firms will undermine state authority and give certain firms an unfair advantage. ... Read full article