February 9, 2024
Via: JD SupraOn February 6, 2024, National Credit Union Administration (NCUA) Chairman Todd M. Harper spoke at a Brookings Institution event to outline his regulatory agenda and supervisory priorities for 2024. His prepared remarks addressed the 90th Anniversary of the Federal Credit […]
Activity, Capital and Risk, Corporate Banking, Credit
January 31, 2024
Via: Banking DiveSellersFi, a global e-commerce financing and financial services company, is partnering with Amazon Lending to offer eligible sellers credit lines of up to $10 million, the companies announced Tuesday. CEO and co-founder Ricardo Pero said the credit lines are targeting […]
January 31, 2024
Via: FinTech FuturesThe facility builds upon a previous $250 million debt facility the fintech landed with Credit Suisse and Waterfall Asset Management in December 2022. Founded in 2016 and based in Los Angeles, USA, Sunbit provides a buy now, pay later (BNPL) […]
Capital and Risk, Macroeconomic
January 30, 2024
Via: DailyFXThe German economy missed slipping into a technical recession by the smallest of margins after the country’s Q3 GDP was upgraded to flat from -0.1%. The first look at German Q4 GDP came in line with market forecasts at -0.3%. […]
January 29, 2024
Via: Insurance JournalWhen disaster hits in the US, the federal government gives aid to states and counties, but also to individuals. In 2022, the Federal Emergency Management Agency delivered $3.25 billion to nearly 1.4 million households recovering from damaging floods and fires. […]
January 25, 2024
Via: Insurance JournalAmazon has pulled the plug on its UK home insurance venture – a comparison website – after launching in October 2022. “Over the last year, we have been evaluating various businesses and programs, and as a part of that we’ve […]
Capital and Risk, Macroeconomic
January 25, 2024
Via: DailyFXYesterday the Bank of Canada (BoC) kept rates unchanged in line with broad expectations. However, the bank did signal that interest rates have peaked via a change in the wording of the January 24th statement. The committee decided to move […]
January 24, 2024
Via: Payments DiveThe Fed’s report documented the financial squeeze that creditors, especially low-income consumers, were experiencing in recent years, due to rent, auto and credit card payments. More than half of low-income (57%) and moderate-income (53%) consumers were rent-burdened in 2021, meaning […]
January 23, 2024
Via: DailyFXEUR/USD has been moving lower this week, but has so far managed to hold above its 200-day simple moving average near 1.0840. For sentiment around the euro to improve, the bulls have to protect this floor at all costs; failure […]
January 22, 2024
Via: Insurance JournalState and national news reports have raised questions about the impact that high property insurance premiums in Florida have had on the real estate market and if the costs are prompting some residents to consider moving elsewhere. The Miami Herald […]
January 19, 2024
Via: Banking DiveThe Federal Reserve has made headway in adding banks to its new FedNow system, with a tally of 400 participating financial institutions, but some of the biggest U.S. banks are still on the sidelines six months after the instant payments […]
January 18, 2024
Via: Insurance JournalUnderwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer’s annual survey of cyber insurance carriers found all underwriters surveyed believe cyber risk will increase in […]
Capital and Risk, Insurance, Regulations
January 17, 2024
Via: Insurance JournalThe Florida Senate’s Banking and Insurance Committee on Tuesday approved a bill that would make the state-backed Citizens Property Insurance Corp. more like an insurer of last resort, unrestricted by premium caps – at least for some expensive homes in […]
January 17, 2024
Via: Banking DiveA rule proposed Wednesday by the Consumer Financial Protection Bureau could reduce — to between $3 and $14 — the overdraft fees charged by banks with more than $10 billion in assets. Under the proposed rule, banks would classify overdraft […]
January 16, 2024
Via: Banking DiveCryptocurrency trading firm Genesis Global Trading will pay the New York State Department of Financial Services $8 million and surrender its BitLicense to settle allegations it violated the agency’s compliance regulations. Routine examinations and an investigation that followed found that […]
January 11, 2024
Via: FinTech FuturesThe bank has adopted the Apiture digital banking platform to expand its presence beyond its current communication channels of branch and telephone-based banking, in line with the growing customer preference for digital banking options. Apiture’s cloud-based platform includes five different […]
January 11, 2024
Via: YahooIn the latest market close, U.S. Bancorp (USB) reached $43.40, with a -0.14% movement compared to the previous day. This change lagged the S&P 500’s daily gain of 0.57%. Elsewhere, the Dow gained 0.46%, while the tech-heavy Nasdaq added 0.75%. […]
January 10, 2024
Via: Insurance JournalLess than a month after Farmers Direct Insurance filed for a hefty rate increase on West Virginia auto liability policies, Progressive has followed suit with an almost identical request. The West Virginia insurance commissioner posted a bulletin Tuesday, noting that […]
January 10, 2024
Via: Insurance JournalThe U.S. retail mortgage lender loanDepot is struggling to recover from a cyberattack that impacted its loan processing and phone service. In a filing on Monday with the Securities and Exchange Commission, the company said data was encrypted by the […]
January 10, 2024
Via: DailyFXThe Japanese Yen has fallen back to mid-December’s lows against the US dollar on Wednesday as more weak wage data out of Japan weigh on any idea that tighter monetary policy there could be coming anytime soon. Japanese workers’ real, […]