Pennsylvania regulators hit SoFi with enforcement action
The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed. ... Read full article
The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed. ... Read full article
Verdigris Bank would also rely heavily on technology as part of its business plan. ... Read full article
Bank of Montreal's push into the U.S. has proved fruitful for its employees — and challenging for a company seeking to get its expenses under control. ... Read full article
If elected president, Sen. Elizabeth Warren would charge large banks a fee to help pay for her Medicare-for-all plan. ... Read full article
The team has already built three customer-facing AI tools this year, which it hopes to keep building upon. ... Read full article
It should offer some form of guidance to spur innovation, a former official with the bureau says. ... Read full article
Prosper hopes to do for lines of credit what it did for unsecured personal loans, while BBVA hopes to provide a better experience for customers. ... Read full article
The ECB and BaFin say dual roles “could undermine” bank's restructuring efforts; JPM shifts cash into long-term bonds because of capital rules. ... Read full article
Large tech companies have been driving home the message that they can help the many Americans who struggle financially. But there are good reasons to be skeptical of their intentions. ... Read full article
Senate leaders say they're ready to consider appointees to fill vacancies at the two regulatory agencies, if only the White House would send over their names. ... Read full article
The FDIC sold the operations of City National Bank of New Jersey, a minority depository institution, to Industrial Bank in Washington, D.C., in the year's fourth closure. ... Read full article
JPMorgan Chase and Amazon.com have begun testing the new health care venture they're developing with Warren Buffett's Berkshire Hathaway, rolling out some of the new offerings to employees in a handful of states. ... Read full article
The Boston bank’s online money market account won’t start until later next year, and many rivals have already beaten it to the punch. But the window for new entrants is still open provided they do certain things right, experts say. ... Read full article
CIT Group has agreed to lend and invest the money mostly in California as well as in the eight states where Mutual of Omaha Bank has branches. ... Read full article
A group of 64 House lawmakers is pushing congressional leadership to incorporate premium caps and address a new methodology for assessing risk in flood insurance reform legislation. ... Read full article
New tech lets American Express instantly issue cards to immigrants; the end of Libor raises concerns about financial stability; regulators shutter banks in Kentucky and Ohio; and more from this week's most-read stories. ... Read full article
PrecisionLender, the digital banking software vendor's largest acquisition to date, sells sales coaching software. ... Read full article
The more things change in small-business lending, the more they stay the same, going back as far as 3,000 years. But in this book excerpt, Karen Mills, former head of the Small Business Administration, predicts momentous changes ahead. ... Read full article
CEO tells employees he wants them to be 'impatient' in fixing the bank’s woes; the new independent body would police banks’ compliance with AML regulations. ... Read full article
The parent of Silicon Valley Bank is as bullish as Citi on the growth potential in China, despite the trade war. SVB's focus on early-stage startups is boosting its profits from Asia. ... Read full article