Credit union's capital raise should make bankers nervous

11/17/17

Jefferson Financial in Louisiana struck a deal to bring in $12 million in secondary capital, which is believed to be the biggest haul to date for a credit union. It could also embolden other credit unions to pursue similar fundraising efforts.

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Why Cleveland Fed should retract its online lending study

11/17/17

The report’s authors presented findings that seemed to reflect issues with the peer-to-peer lending industry, but they actually relied on data from a much broader category of loans.

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Executives debate: Is bitcoin ‘the next kale’?

11/17/17

Michael Lewis calls it a "pump-and-dump" scheme. Liz Ann Sonders says it's "the next kale." Should clients invest in cryptocurrencies?

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Empowering women in the economy would boost growth, Citi says

11/17/17

Improving gender equality could significantly boost growth in advanced economies over the coming decades, according to Citigroup Inc.

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Treasury details overhaul of nonbank SIFI supervision process

11/17/17

The Treasury Department outlined its vision Friday for how and when federal agencies should use their powers to subject nonbanks to enhanced regulatory scrutiny, emphasizing activities over individual firms.

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Time running out on banks' push to preserve popular tax credit

11/17/17

The House-passed tax bill would eliminate the New Markets Tax Credit while the Senate bill would not reauthorize it when it expires in two years. Bankers and other proponents say that if it is discontinued many economic development projects in rural and low-income communities won’t be funded.

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Wells Fargo fires head of consumer lending

11/17/17

The San Francisco company said Friday that it has terminated Franklin Codel, effective immediately, over an interaction he had with a former employee regarding that employee's termination.

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Otting approved as comptroller; OMB head may lead CFPB too

11/17/17

Mnuchin’s former business associate is likely to be sworn in next week; Mulvaney, as a congressman, called the CFPB a “joke” and co-sponsored a bill to kill it.

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Why Synchrony and PayPal are joining forces

11/16/17

The deal for PayPal’s consumer loan portfolio will make Synchrony a bigger player in e-commerce. And the agreement helps the Silicon Valley payments giant achieve its goal of reducing its exposure to the credit cycle.

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How a new CFPB head may revamp rules, enforcement

11/16/17

A new Republican director of the Consumer Financial Protection Bureau is likely to take immediate action to change certain rules, including the "qualified mortgage" and payday rules, while curbing pending enforcement actions that are considered too harsh on financial firms.

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