The mortgage giants Fannie Mae and Freddie Mac would have to draw as much as $78 billion in the event of a serious economic crisis, according to stress test results released Tuesday by the housing regulator.
The online small-business lender was aided by loan growth, wider margins and stable credit trends. Its shares surged by 25% after second-quarter earnings were announced.
UniCredit SpA stopped using Facebook Inc. for advertising, alleging the media giant hasn’t acted ethically, a move other large companies have also threatened to make.
The agency’s decision to offer special-purpose charters for fintech companies raises questions about how those institutions will be overseen and the risks they could pose to the system.
The unnamed customer, who was on a list of suspects involved with weapons of mass destruction, used an HSBC credit card to make 12 payments in the second quarter, the company told shareholders Monday.
The bureau wants to encourage more innovation without the threat of enforcement, but observers say regulators also need a testing ground to prove they can regulate fintech.
