WASHINGTON— Federal banking regulators on Thursday formally launched what could become the biggest rewrite of U.S. bank capital rules in years, unveiling a package of proposals aimed at easing and recalibrating capital requirements across the industry—moves officials say should reduce aggregate required capital for banks of all sizes and free up more capacity for lending.
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MCLEAN, Va.--The 30-year fixed-rate mortgage inched up this past week, averaging 6.22%, Freddie Mac reported.
NEW YORK— Propel Holdings CEO Clive Kinross is making a blunt case that the traditional FICO score is losing relevance for a growing share of U.S. borrowers, arguing that AI-driven underwriting built around real-time cash flow and income timing may better define the future of consumer credit, according to an interview with PYMNTS CEO Karen Webster.
MILWAUKEE –The $7-billion Landmark Credit Union has agreed to buy a branch of North Shore Bank, located in McHenry, Ill, the CU announced.
TAMPA— The $120-million Thinkwise Federal Credit Union has become the first Minority Depository Institution (MDI) credit union to offer Zelle through the recently launched program from Velera and Zelle aimed at expanding access to the popular person-to-person payments service among MDI credit unions, Velera reported.
MADISON, Wis.— The political and public-relations fight over credit unions buying banks is widening again, with the Wisconsin Bankers Association launching a fresh attack after Landmark Credit Union’s agreement to acquire $419-million American National Bank-Fox Cities, and the Wisconsin Credit Union League firing back that bankers are recycling misleading tax arguments as more bank deals move forward.
WASHINGTON— Federal Reserve Chair Jerome Powell said Wednesday he plans to remain on the Federal Reserve Board if the U.S. Department of Justice investigation into him is still unresolved when his term as chair expires in May, signaling he may continue to influence monetary policy even after stepping down from the Fed’s top post.
WASHINGTON--All 14 America’s Credit Unions PAC-backed candidates in Illinois won their primaries on Tuesday, ACU reported.
TALLAHASSEE, Fla.— The League of Credit Unions & Affiliates Wednesday announced that its board has approved a national search for the organization’s next CEO.
WASHINGTON— Consumers want fintech firms that offer bank-like services to follow the same rules as traditional banks, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association.