Only North Dakota has its own state-owned bank, but policymakers in other states say more public banks are necessary to fully meet society's needs. Among those who proponents say would benefit the most: small-business owners and legal marijuana suppliers and distributors.
The bank says CEO had no input into $325 million loan to Trump's son-in-law; Fifth Third, First Republic take equity stake in online student loan lender.
Sen. Durbin wants the bank to ease its college marketing efforts; the Consumer Bankers Association wants the government to make more room for private lenders.
In some states, total mortgages outstanding are at all-time highs, but in others hard hit by the financial crisis they remain well below their 2008 peaks, the New York Fed said Tuesday in its quarterly report on household debt.
U.S. consumers are borrowing more than ever to buy homes and cars, pay for college and even finance every day purchases. Is it a display of confidence in the U.S. economy or are many households living far beyond their means?
Social Finance has acquired the engineering and product teams of mortgage startup Clara Lending, bolstering the financial technology company's offerings beyond student-loan refinancing, according to people familiar with the matter.
Stepping in after co-founder Mike Cagney's resignation, Anthony Noto needs to overhaul the firm's corporate culture, lay the groundwork for an IPO and determine whether to renew SoFi's pursuit of a bank charter.