Mortgage rates fall after increasing for three straight weeks

November 7, 2019

Mortgage rates dropped in the past week after rising in six of the last nine weeks, including most of the month of October. The 30-year fixed-rate mortgage averaged 3.69% during the week ending Nov. 7, down three basis points from […]

Jobless claims fall to 212,000 in late October, still no sign of rising U.S. layoffs

October 24, 2019

The numbers: The number of people who applied for U.S. jobless benefits in mid-October fell slightly and clung near a 50-year low, showing the resilience of strong labor market that’s held up remarkably well in the face of a slowing […]

Jobless claims rise slightly to 214,000 in mid-October, but remain near a 50-year low

October 17, 2019

The numbers: The number of unemployed workers who applied for jobless benefits in the second week of October rose slightly, but layoffs nationwide remained near a 50-year low and showed no sign of rising despite a slowdown in the U.S. […]


Wells Fargo ordered to pay USAA $200m for infringed payments patents

November 11, 2019

Via: Banking Technology

The patents, which focused on making cheque deposits made with mobile devices simpler, were the subject of a 2018 patent infringement lawsuit filed by USAA targeting Wells Fargo’s mobile deposit solution. The process allows bank customers to use their mobile […]

Capital and Risk, Credit, Regulations

Apple Card faces investigation over sexist credit limit claims

November 11, 2019

Via: Finextra

On Friday, David Heinemeier Hansson, a prominent technology entrepreneur, complained to his 355,000 Twitter followers that the Apple Card is “such a fucking sexist program” because its “black box algorithm thinks I deserve 20x the credit limit she [his wife] […]

Activity, Trading

Value stocks have ‘never been this cheap,’ Bank of America says

November 8, 2019


Value stocks, those with stable fundamentals and subpar valuations, haven’t been this cheap since the financial crisis, according to Bank of America. Cheap equities enjoyed a resurgence in September from a decade of underperformance as investors bet on economically sensitive, […]

Activity, Insurance

Lloyd’s to Create Single Governing Body, Merging Council and Franchise Board

November 8, 2019

Via: Insurance Journal

Re/insurance market Lloyd’s announced its decision to merge the Council of Lloyd’s and the Franchise Board, effective from June 1, 2020, after receiving widespread support from across the market. The news follows five months of consultation across the Lloyd’s market, […]