The JPMorgan Chase CEO is rejecting arguments that banks are poised to loosen underwriting standards to win more mortgage business. He said what's needed to encourage banks to make more loans to borrowers with spotty credit files are changes to FHA rules and other policy fixes.
Cryptocurrencies continue to pique the interest of our readers, with a warning on bitcoin taking the top spot and a story about Ripple's partnership with MoneyGram doing well. Housing finance reform, Wells Fargo and the CFPB also featured.
The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis.
Treasury Secretary Steven Mnuchin on Friday warned traders and firms offering services related to cryptocurrencies like bitcoin that anti-money-laundering and know-your-customer rules apply to them — and regulators are watching closely.
Wells Fargo had another surprise for investors in the form of its biggest legal charge yet, showing the lender is not yet past its consumer banking scandals.
The Pittsburgh company got the tax-related boost from an increase in the valuation of its deferred tax liabilities. It was partly offset by several charges.
