Government shutdown grinds SBA lending to halt
The agency is unable to process loan applications and faces a daunting backlog once Washington returns to work. ... Read full article
The agency is unable to process loan applications and faces a daunting backlog once Washington returns to work. ... Read full article
Deutsche Bank's management board plans to cut the bonus pool by around 10 percent as the German lender juggles cost pressures while trying to retain key employees, according to people familiar with the matter. ... Read full article
Pay for female staff at HSBC's U.K. business fell further behind male colleagues' in the last year, according to new figures from the London-based bank. ... Read full article
Former Federal Reserve economist Nellie Liang withdrew from consideration for a seat on the central bank’s board of governors, the White House announced Monday. ... Read full article
The White House has officially nominated Mark Calabria as the next director of the Federal Housing Finance Agency. ... Read full article
Despite controversy surrounding Ripple’s digital token, one bank is pushing forward to use it in cross-border payments. ... Read full article
4.5% rates could trigger more homebuying and refinances; Sherborne Investors wants a seat on the bank’s board so it can facilitate change. ... Read full article
CEOs on the hot seat. Banks fighting to stay independent. Comfortable players ripe for disruption from Amazon and others. It is shaping up as a riveting year. ... Read full article
Invesments in software can speed up decision-making and help traditional lenders better compete with fintechs for creditworthy customers who want their loans quickly. ... Read full article
Senator Elizabeth Warren’s first trip to Iowa as a likely presidential candidate highlighted her fiery anti-Wall Street populism. ... Read full article
A Financial Services subcommittee planned by Democrats to root out discrimination and expand financial inclusion could put banks on the hot seat, but it could also foster regulatory relief. ... Read full article
Organizers are planning to raise up to $25 million for Tandem Bank. ... Read full article
Linda Lacewell replaces Maria Vullo as New York’s chief financial regulator; the Swiss bank is reportedly talking to Christian Meissner about a senior role. ... Read full article
Two trends — competition from challenger banks and the emergence of real-time payments — threaten to eat away at the fees banks collect on overdrafts and bounced checks. ... Read full article
Before the financial crisis, federal and state regulators unabashedly pitched their charters to banks as the better choice. That's happening again, despite warnings that such jousting might result in lax oversight. ... Read full article
Santander taps JPMorgan Chase exec Colleen Canny to lead retail network; can Trump actually fire Fed's Powell?; will 2019 bring long-awaited reform of Fannie Mae, Freddie Mac?; and more from the past two week's most-read stories. ... Read full article
As the government shutdown enters its third week, mortgage servicers are activating the response plans they normally use during hurricanes and wildfires to assist federal workers who may have trouble paying their mortgages. ... Read full article
As consumers continue to migrate to banking apps, lenders may be tempted to focus solely on improving that channel. But new data suggests consumers aren't abandoning other platforms just yet. ... Read full article
Borrowers and financial institutions may be feeling the strain from reduced operations at the FHA and IRS, which has suspended the release of certain income documentation during the budget impasse. ... Read full article
The central bank chairman said Friday that he would not step down if asked to do so by the president, adding that he has not received any direct communications from the White House about the agency’s interest rate policy. ... Read full article