The governing body of the Federal Reserve System has issued an enforcement action against Customers Bancorp, the parent company of state-chartered Customers Bank known for doing business with crypto exchange platforms and stablecoin issuers. The Federal Reserve Board (FRB) says the Pennsylvania-based bank holding company and its subsidiary have significant deficiencies in risk management practices
With low rates, no lender fees and a rate match guarantee, Better is a great option for saving money. Plus, Better loan officers don’t operate on commission, so you won’t face high-pressure tactics. We like Better’s nationwide availability and its speedy approval process and closing timeline can get you into your new home faster. While
A US banker has admitted to stealing millions of dollars from customers’ accounts in a 15 year-long scheme. The U.S. Attorney’s Office for the Western District of Missouri says 36-year-old Megan Lea Dougherty has pleaded guilty to one count of bank fraud for looting $2.393 million from over a dozen Exchange Bank of Missouri customer
The US national debt is closing in on $35 trillion, triggering a warning to investors from analysts at JPMorgan Chase. According to new data from the Treasury, the total outstanding public debt amounts to $34.99 trillion – or $34,997,540,505,103 to be exact – as of July 25th. That’s up from $32.59 trillion just one year
The Finance Ministry is developing a new model to provide home loans based on a person’s consumption and spending pattern, Indian Express reported, quoting Financial Services Secretary Vivek Joshi. Banks will be developing the framework mostly on their own, but some of the parameters are to be discussed with the Indian Banks’ Association. Banks will
Boutique investment bank Ardea Partners is reportedly planning to expand in the U.K. As the Financial Times (FT) reported Monday (July 15), the New York-based Ardea is growing its London office with the recent hiring of Sir Ian Cheshire, who is chair of broadcaster Channel 4 and property group Land Securities, as a senior adviser.
Discover® home equity loans have a lower-than-average minimum APR and no application, origination or appraisal fees — a standout feature among lenders, especially since closing costs can reach up to 6% of your total loan amount. We also like that Discover approves loans for borrowers with as little as 10% equity and in nearly every
Barclays is set to reduce fixed-rate mortgages by 0.27 percentage points Santander slashed its deals by up to 0.16 as Halifax shaved up to 0.19 from rates NatWest has now slashed its rates twice, cutting up to 0.23 percentage points Five of the biggest lenders are in a mortgage rate-cutting war as they fight for
If you’re shopping for a mortgage with bad credit or want to make a small down payment, consider a Federal Housing Administration (FHA) loan. Created during the Great Depression to help low-income and moderate-income Americans buy homes, these government-backed mortgages accept borrowers with credit scores as low as 580 with 3.5% down. Borrowers who put
Bad news for the 1%: per a new exhaustive report from Citigroup, finance is on track to bear the brunt of AI-related displacement. AI will “profoundly change money,” the 124-page report declares in the introductory paragraph. Sure, it creates “new opportunities for growth and innovation, often improving our overall quality of life,” Citigroup says. But