OCC finalizes Fair Lending Rule, forcing banks to lend to politically unfavorable companies
In his last days in office, acting comptroller Brain Brooks finalized the Fair Lending Rule. The new OCC rule will forbid banks...
Fed’s Rosengren Shows Support for Biden’s Stimulus Proposal
Boston Federal Reserve President Eric Rosengren said on Jan. 15 that President Joe Biden's proposed stimulus plan is much needed for an...
Walmart plans to launch its own fintech
Walmart, the American retail giant is planning on launching a fintech platform to penetrate the growing digital financial landscape space. The retailer...
JP Morgan and Citibank post positive Q4 results after a tumultuous year
The ripples of the pandemic could be felt throughout the economy in 2020 and the banking sector was no exception. Despite experiencing...
Biden Picks Rohit Chopra as Head of Consumer Protection Agency
President-elect Joe Biden picked Rohit Chopra to serve as the next director of the Consumer Financial Protection Bureau (CFPB), two sources told...
Housing Prices Rise in the Middle of U.S.
While the pandemic has negatively impacted many industries, the housing market experienced higher gains in 2020 than in the past decade. The most...
Consolidation Looms Over Europe’s Digital Banks After a Tumultuous 2020
Due to the coronavirus pandemic, the prominence of digital banks and online banking has increased substantially over the past year.
OCC: National Banks Can Accept, Process Stablecoin Payments
The OCC has allowed national banks to participate in independent node verification networks and use stablecoins for payments. In an interpretive letter...
SoFi Merges with Social Capital Hedosophia to Form a One-Stop-Financial-Shop
SoFi, the online lender, has merged with SPAC Social Capital Hedosophia to pave the path for the fintech to go public. The...
U.S. Construction Spending Increases by 0.9% in November
U.S. spending on construction projects increased by 0.9% to $1.459 trillion in November, the highest level since the government started tracking the...